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Report: OTP Bank's Ukrainian subsidiary to focus curbing NPLs

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Report: OTP Bank's Ukrainian subsidiary to focus curbing NPLs

unit will useits 2016 earnings to deal with its bad loan portfolio, Financial Club reportedApril 27, citing the lender's management board chairman, Tamas Hak-Kovacs.

Thelender will use loan conversions and restructure loans on preferential rates asa way to curb nonperforming loans, the executive said.

The bankposted a net loss of 2.8 billion Ukrainian hryvni for 2015, with loan lossprovisions amounting to 2.1 billion hryvni. The first-quarter net profitamounted to 327 million hryvni, while the provisions reached 295 million hryvni.

As of April 27, US$1 wasequivalent 25.20 Ukrainian hryvni.