OTP Bank’s Ratings Affirmed

Ref: HU0072 4PBK 00- 0 1 2 October 2024

OTP Bank’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of OTP Bank (OTP) at ‘BBB’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed OTP’s Bank Standalone Rating (BSR) of ‘bbb’ , Core Financial Strength (CFS) rating of ‘bbb+’ , and Extraordinary Support Level (ESL) of Uncertain. The Outlook for the LT FCR and BSR remains Negative.

The Bank’s LT FCR is set at the same level as the BSR as it is uncertain whether extraordinary support would be forthcoming in the event of need given the EU Bank Recovery and Resolution Directive (BRRD), which was transposed into national law in Hungary in 2014, and the absence of a private strategic shareholder with a…