OTP Bank1Q2002. Performance

Dr. Zoltán Spéder Vice-Chairman, Deputy CEO, CFO

BSE Roadshow – 2002

OTP Bank 1Q 2002 results

Bank - 2002 targets

Average HUF bn

Year end HUF bn

Average HUF bn

1Q end HUF bn

Balance sheet total 2,104.5 2,274.7 2,092.4 2,164.2

Loans 822.2 881.8 808.9 819.6

Retail 240.9 248.0 253.6 263.8

Housing 106.8 96.4 145.3 152.1

Consumer 134.1 151.6 108.3 111.7

Corporate 514.8 585.1 498.1 508.9

Municipal 45.6 48.7 57.2 46.9

Loan to asset ratio 39.0% 38.8% 38.7% 37.9%

Shareholders equity 171.4 188.6 162.5 166.6

Targeted Q1 results

Balance sheetBalance sheet

OTP Bank 1Q 2002 results

Bank - 2002 targets (2)

HUF bn Change HUF bn ChangeInterest income 184.5 -4.8% 45.9 -3.5%Interest expenses 86.7 -9.2% 21.9 -10.0%

Net interest income 97.8 -0.5% 24.1 3.2%Net fees and commissions 52.2 30.5% 12 42.3%

Total non interest income 6.3 122.9% 1.6 300.0%Personnel expenses 36.8 12.9% 7.6 10.9%Depreciation 12.2 9.3% 2.8 4.0%Other non interest expenses 45.1 8.7% 11.5 17.7%

Total non-interest expenses 93.3 9.4% 21.8 13.4%Operating profit 62.3 11.4% 15.8 23.3%Risk expenses 8.4 -1.4% 2.8 140.8%Pre-tax profit 53.9 13.7% 13 11.6%After tax profit 44.2 15.1% 10.7 11.8%

Targeted Q1 PerformanceHUF bn Change HUF bn Change

Interest income 184.5 -4.8% 45.9 -3.5%Interest expenses 86.7 -9.2% 21.9 -10.0%

Net interest income 97.8 -0.5% 24.1 3.2%Net fees and commissions 52.2 30.5% 12 42.3%

Total non interest income 6.3 122.9% 1.6 300.0%Personnel expenses 36.8 12.9% 7.6 10.9%Depreciation 12.2 9.3% 2.8 4.0%Other non interest expenses 45.1 8.7% 11.5 17.7%

Total non-interest expenses 93.3 9.4% 21.8 13.4%Operating profit 62.3 11.4% 15.8 23.3%Risk expenses 8.4 -1.4% 2.8 140.8%Pre-tax profit 53.9 13.7% 13 11.6%After tax profit 44.2 15.1% 10.7 11.8%

Targeted Q1 PerformanceProfit generationProfit generation

OTP Bank 1Q 2002 results

Bank - 2002 targets (3)

Targeted value

Q1 perfor-mance

Net interest margin 4.65% 4.60%Non interest income/ total income 37.4% 36.1%Cost income ratio 60.2% 58.0%Risk expenses/ loan portfolio 1.0% 1.14%ROAA 2.1% 2.0%ROAE 25.8% 26.2%Real ROE 19.3% 20.0%Dividend payout ratio (HUF 395/share)

25.0% 25.0%

Targeted value

Q1 perfor-mance

Net interest margin 4.65% 4.60%Non interest income/ total income 37.4% 36.1%Cost income ratio 60.2% 58.0%Risk expenses/ loan portfolio 1.0% 1.14%ROAA 2.1% 2.0%ROAE 25.8% 26.2%Real ROE 19.3% 20.0%Dividend payout ratio (HUF 395/share)

25.0% 25.0%

BSC indicatorsBSC indicators

OTP Bank 1Q 2002 results

Market share–total assets

1,636 1,704 1,687 1,754 1,768 1,865 1,813 1,865 1,931 1,945 1,969 2,024 2,127 2,164

25.7%24.9% 25.0%

22.3%23.2%

18.3% 17.9%

15.3%14.5%

16.3% 15.9% 15.8% 15.6% 15.3%14.6% 15.0% 15.5%

16.6% 16.6%

22.3%22.8%22.1%

22.9%22.8%23.3%24.9%

24.0%24.0%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

31-Dec-98

31-Mar-99

30-J un-99

30-Sep-99

31-Dec-99

31-Mar-00

30-J un-00

30-Sep-00

31-Dec-00

31-Mar-01

30-J un-01

30-Sep-01

31-Dec-01

31-Mar-02

0%

3%

6%

9%

12%

15%

18%

21%

24%

27%

30%

Bank sector OTP Bank Market share-total assets Market share-total loans

HUF bn

OTP Bank 1Q 2002 results

Balance sheet, interest income

605

1,659

770

1,826

820

1,813

0

500

1,000

1,500

2,000

2,500

1Q01

assets

1Q01

liabilities

2001

assets

2001

liabilities

1Q02

assets

1Q02

liabilities

custormer treasury non interest earning/ yielding

186

1,316

258

1,406

264

1,410

381

202

465

254

509

255

37

123

47

152

47

136

0

500

1,000

1,500

2,000

1Q01 loans 1Q01

deposits

2001 loans 2001

deposits

1Q02 loans 1Q02

deposits

retail corporate municipal

11.9%

10.6% 10.9% 11.3% 11.2% 10.8% 11.1% 10.8%9.7%

6.8%6.2% 6.0% 5.7% 5.7% 5.6% 5.6% 5.3%

4.7%

4.8% 4.3% 4.7%5.3% 4.9% 5.1% 5.2% 5.1% 4.6%3%

5%

7%

9%

11%

13%

15%

1Q 00 2Q 00 3Q 00 4Q 00 1Q 01 2Q 01 3Q 01 4Q 01 1Q 02

Asset yield Liability yield

Spread Margin

h 47.6

24.3

23.3

48.2

23.7

24.5

48.4

23.8

24.6

49.6

23.7

25.9

45.9

21.9

24.1

0

10

20

30

40

50

1Q01

inc.

1Q01

exp.

1Q01

NII

2Q01

inc.

2Q01

exp.

2Q01

NII

3Q01

inc.

3Q01

exp.

3Q01

NII

4Q01

inc.

4Q01

exp.

4Q01

NII

1Q02

inc.

1Q02

exp.

1Q02

NII

+11.3%

Assets, liabilitiesAssets, liabilities Loans, depositsLoans, deposits

Yields, spreadYields, spread Net interest incomeNet interest income

+9.7%

+35.5%

HUF bnHUF bn

HUF bn

+3.2%

OTP Bank 1Q 2002 results

Non interest income

27.3%30.6% 30.7% 32.3%

36.1%

0%

5%

10%

15%

20%

25%

30%

35%

40%

1Q 01 2Q 01 3Q 01 4Q01 1Q 02

non interest / total income

1.85%

2.27% 2.25%2.45%

2.60%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

1Q 01 2Q 01 3Q 01 4Q01 1Q 02

non interest income/ total assets (annualized)

0

2

4

6

8

10

12

14

16

1Q01 2Q01 3Q01 4Q01 1Q02

Other

CardbusinessSecurities.

Retail currentacc.

Deposits

loans

accountmanagement

+39.4%

+1.9%

810 10

12 12

-2

0

2

4

6

8

10

12

14

16

1Q 01 2Q 01 3Q 01 4Q01 1Q 02

Other

Propertytransactions

Forextrading

Securitiestrading

Net fees &commissions

+55.0%

+10.0%

Non interest income componentsNon interest income components

Non int. income/Total incomeNon int. income/Total income

Fee and commission incomeFee and commission income

Non int. income/Average total assetsNon int. income/Average total assets

HUF bn HUF bn

OTP Bank 1Q 2002 results

Non interest expenses

60.4%58.2% 58.3%

64.4%

58.0%

54%

56%

58%

60%

62%

64%

66%

1Q 01 2Q 01 3Q 01 4Q01 1Q 02

cost income ratio

1.5% 1.5%1.7%

2.1%

1.5%

0.6% 0.6% 0.6% 0.6% 0.5%

2.3%2.1%

2.2% 2.2%2.1%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

1Q 01 2Q 01 3Q 01 4Q01 1Q 02

personnel depreciation operational

9,026 8,435 8,188 8,200

8,293 8,3208,497

8,137

10.0% 9.8%9.2%

6.0%

9.7% 9.4%

4.1%

5.4%

7,000

7,400

7,800

8,200

8,600

9,000

9,400

1999 2000 2001 2002E0%

2%

4%

6%

8%

10%

12%

Average employment Year end employmentI nflation Growth in non-interest expenses

6.9 7.2 8.010.5

7.6

2.7 2.8 2.83.0

2.8

9.9 10.6 9.9

11.1

11.5

0

5

10

15

20

25

30

1Q 01 2Q 01 3Q 01 4Q01 1Q 02

personnel depreciation operational

+13.4%

Non interest expensesNon interest expenses Cost/income ratioCost/income ratio

Non int. expenses/Total assetsNon int. expenses/Total assets Cost rationalizationCost rationalization

HUF bn

annualized

- 240 bp

OTP Bank 1Q 2002 results

Retail deposits

918 912 919972 971 988 995

1,0771,098

316 316 336 336 345 317 324 329 312

43.0%43.0%42.6%

41.7%41.2%

40.8%39.9%

39.2%39.4%40.1%

39.4%38.8%

38.3%37.6%

37.2%36.9%36.2%36.2%

0

200

400

600

800

1,000

1,200

31-Mar-00

30-J un-00

30-Sep-00

31-Dec-00

31-Mar-01

30-J un-01

30-Sep-01

31-Dec-01

31-Mar-02

30%

33%

36%

39%

42%

45%

48%

HUF FX

HUF market share FX market share

Volumes, market shareVolumes, market share

92 93 97104 105

115

127

151 152

59 65 72 76 81 91 103 107 112

68.6%

61.3%

52.1%49.0%

46.6%46.7%

42.7%

22.9%22.6%23.1%22.2%22.2%21.0%21.9%21.1%

54.9%

75.2%

21.2%

0

20

40

60

80

100

120

140

160

31-Mar-00

30-J un-00

30-Sep-00

31-Dec-00

31-Mar-01

30-J un-01

30-Sep-01

31-Dec-01

31-Mar-02

10%

20%

30%

40%

50%

60%

70%

80%

90%

Housing Consumer

Housing market share Consumer market share

Volumes, market shareVolumes, market share

OTP Bank 1Q 2002 results

Corporates, municipalities

316

369398

420464

630.1% 703.0% 720.1%598.6%1383.9%

10.6%10.9%

11.4%11.8%

12.6%

0

100

200

300

400

500

1Q 01 2Q 01 3Q 01 4Q 01 1Q 02

9.0%

10.0%

11.0%

12.0%

13.0%

14.0%

Corporate SME Entrepreneurs Non-profit market share

190 200214

239 240

12 15 18 15 15

12.4%

11.7%11.6%

11.8%

12.5%

0

50

100

150

200

250

300

31-Mar-01 30-J un-01 30-Sep-01 31-Dec-0131-Mar-02

11.00%

11.25%

11.50%

11.75%

12.00%

12.25%

12.50%

HUF deposits FX deposits market share

Corporate loans Corporate loans Corporate depositsCorporate depositsHUF bn

37.440.4 39.7

46.7 46.9

68.8%

65.4%65.0%

70.4%70.7%

0

5

10

15

20

25

30

35

40

45

50

55

31-Mar-01 30-J un-01 30-Sep-01 31-Dec-01 31-Mar-0263%

64%

65%

66%

67%

68%

69%

70%

71%

72%

73%

74%

loans market share

123

82

132

152

136

78.7%

73.9%

78.9%

78.3%

75.7%

0

20

40

60

80

100

120

140

160

31-Mar-01 30-J un-01 30-Sep-01 31-Dec-01 31-Mar-0273%

74%

75%

76%

77%

78%

79%

80%

81%

deposits market share

Municipal loansMunicipal loans Municipal depositsMunicipal depositsHUF bn HUF bn

HUF bn

OTP Bank 1Q 2002 results

Loan quality

3.4% 2.4% 2.6%

1.0%0.8%

0.9%

0.6% 0.7% 1.0%

2.0%

1.6%1.6%

5.2% 5.0% 4.4% 3.7%4.0%4.0%0%

1%

2%

3%

4%

5%

6%

7%

31-Mar-00

30-Jun-00

30-Sep-00

31-Dec-00

31-Mar-01

30-Jun-01

30-Sep-01

31-Dec-01

31-Mar-02

Problem To be monitored

Qualified receivables as % of customer receivablesQualified receivables as

% of customer receivablesQualified receivables as

% of total receivablesQualified receivables as

% of total receivables

4.5% 3.4% 3.4%

1.3%1.2%

1.3%

0.8%1.1%

1.4% 2.7%

2.4% 2.2%

7.2% 6.9% 6.1% 5.0%5.8%5.4%0%

2%

4%

6%

8%

10%

31-Mar-00

30-Jun-00

30-Sep-00

31-Dec-00

31-Mar-01

30-Jun-01

30-Sep-01

31-Dec-01

31-Mar-02

Problem To be monitored

OTP Bank 1Q 2002 results

Loan quality

45.5 45.9 45.240.7

43.9 43.7

54.5

44.647.3

25.8 27.0 25.622.9 24.8 25.8 27.3

21.7 22.7

56.7%58.8%

56.6%56.2%56.5%59.1%

50.2%48.6%48.0%

0

10

20

30

40

50

60

31-Mar-00

30-Jun-00

30-Sep-00

31-Dec-00

31-Mar-01

30-Jun-01

30-Sep-01

31-Dec-01

31-Mar-02

10%

20%

30%

40%

50%

60%

70%

Qualified Provision Coverage

Qualified loansQualified loans Provisions, coverageProvisions, coverageHUF bnHUF bn

OTP Bank 1Q 2002 results

HUF million rounded 1Q2001 1Q2002 ChangeOTP-Garancia Insurance Ltd. 300 405 35.0%Merkantil Bank Ltd. 473 627 32.6%Merkantil Car Ltd. 105 69 -34.3%Merkantil Bérlet Ltd. 85 4 -95.3%OTP Fund Management Ltd. 491 737 50.1%OTP Fund Servicing and Consulting Ltd. - 15 OTP Building Society Ltd. 362 577 59.4%OTP Mortgage Bank - 216 HIF Ltd. 32 125 290.6%OTP Securities Ltd. (102) (8) OTP Real Estate Ltd. 264 290 9.8%OTP Factoring Ltd. 344 288 -16.3%OTP Factoring Management Ltd. 225 33 -85.3%Bank Center No I . Ltd. (42) 12 Other subsidiaries 18 (21) Pre-tax profits of subsidiaries 2,255 2,964 31.4%Consolidated pre-tax profits 13,667 16,079 17.6%Subsidiaries' proportion 16.5% 18.4% 1.9%

Consolidated subsidiaries

OTP Bank 1Q 2002 results

OTP Group – market shares

41.4%

8.2%

38.7%

50.9%53.7%

15.5%

11.7%

39.6%

15.8%

35.7%

49.1%

54.1%

17.2%

12.6%

0%

10%

20%

30%

40%

50%

60%

Bank savings Life insurancereserves

Consumercredits

BuildingSociety savings

Investmentfunds

Pension fundmanagement

Corporate loans

1Q2001 1Q2002

OTP Bank 1Q 2002 results

Bank & consolidated indicators

33

10

18

28

38

11

39

11

22

34

46

13

0

5

10

15

20

25

30

35

40

45

50

2000 1Q01 1H01 9M01 2001 1Q 02Bank Consolidated

Undiluted EPSUndiluted EPSAfter tax profitsAfter tax profits

ROAA (annualized)ROAA (annualized) ROAE (annualized)ROAE (annualized)

18.7% 18.7% 16.0% 17.4% 17.7% 20.0%

20.7% 20.0% 18.5% 19.0% 19.3% 21.7%

0%

5%

10%

15%

20%

25%

30%

35%

2000 1Q01 1H01 9M01 2001 1Q02

Bank Bank real Consolidated Cons. real

123

36

67

108

146

40

149

43

86

133

181

51

0 Ft20 Ft40 Ft60 Ft80 Ft

100 Ft120 Ft140 Ft160 Ft180 Ft

2000 1Q01 1H01 9M01 2001 1Q02Bank Consolidated

1.76% 1.97% 1.82% 1.92% 1.89% 1.99%

1.95%2.15% 2.09% 2.13% 2.11%

2.23%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

2000 1Q01 1H01 9M01 2001 1Q02Bank Consolidated

HUF bn

OTP Bank 1Q 2002 results

For further information please contact:

Dr. Zoltán Spéder, Vice-Chairman, CFOspederz@otpbank.hu

George FenyõManaging Director, IR

fenyog@otpbank.huPhone: +36 1 269 1693