News

As you know, today the principles of ESG and/or Sustainable Development are including in all aspects of life and are becoming more relevant every day. This is because Sustainable development is the ability of a society to exist and develop without depleting all the natural resources it needs for its future survival. OTP Group understands this perfectly well and actively applies these principles in its activities.

Global Money Week, part of an educational initiative, annually hosts events aimed at enhancing the financial knowledge of young individuals worldwide. This year's activities in Uzbekistan were brimming with engaging programs.

After joining the OTP group, goals and objectives in the direction of sustainability are gaining momentum. To define and approve our short-term and strategic goals, we set about creating the bank's ESG strategy.

JSCMB "Ipoteka-bank", announces an extraordinary general meeting of shareholders of the bank on May 29, 2024 at 1100 hours remotely using the electronic voting service.

We are glad to announce that the OTP Group’s 2023 Sustainability Report is now ready for acquaintance. For the first time, Ipotekabank took part in the elaboration of the Sustainability Report.

The third Tashkent International Investment Forum ended in Tashkent. About 2,500 government representatives, heads of large commercial banks and companies, and high-ranking guests from international organizations such as the UN, EBRD, and SCO took part in the forum

3-year Eurobonds of Ipoteka Bank in the amount of 1.4 trillion soums were successfully placed on April 25, 2024 on the international Vienna Stock Exchange with a coupon rate of 20.5% p.a. The placement of Eurobonds was carried out in accordance with the recommendations of the transaction’s underwriter bank J.P. Morgan Chase.

The Ipoteka Bank is a significant player in Uzbekistan's banking system, holding signaficant share of the market's assets. It also commands a third of the mortgage lending market and maintains a stable, liquid, and diversified balance sheet.

According to the Presidential decree, the fourth Wednesday of each month was declared “A car-free day”. For this reason, several heads and employees of Ipotekabank enthusiastically approached this project, abandoning their personal cars that day and coming to work on public transport and other types of green transport, such as bicycles and electric scooters.

The balance of adjustment items showed -HUF 18 billion against -HUF 245 billion a year ago. Those items which were a drag on 2022 earnings and were related to the Russian-Ukrainian war practically disappeared or dropped substantially, namely goodwill impairment and the impairment recognized on the Russian government bonds, furthermore the balance of special taxes in Hungary also dropped by around 1/3 y-o-y. At the same time the negative impact of the interest rate caps stayed in place: besides Hungary, Serbia also introduced such measure from 3Q 2023. The single most important positive item was the badwill impact booked in relation to the Slovenian and Uzbek acquisitions.