Investor Presentaiton

The consolidated net interest margin shrank by 19 bps q-o-q, mainly due to the narrowing Hungarian and Russian margins Drivers behind the q-o-q decline of the consolidated net interest margin 3.62% -13 bps -5 bps 4 bps 3.43% -4 bps 4Q 2021 OTP Core (Hungary) OTP Bank Russia Others FX-effect 1Q 2022 OTP Core's net interest income contracted by HUF 4 billion q-o-q, and the net interest margin decreased by 26 basis points due to the following factors: -29 bps NIM decline was caused by the lower swap result; +9 bps related to the mostly floating rate corporate and MSE loans that reprice gradually in the higher rate environment; -4 bps related to retail loans, as their average interest rate declined q-o-q. Bulk of the loans to households have an interest rate fixation period for at least ten years; +11 bps explained by the joint effect of higher interest income on financial assets (mainly attributable to higher interest rates on central bank deposits), and higher interest expenditures on customer deposits (mainly in the corporate segment); -13 bps composition and other effects, mainly triggered by the dilution coming from fast deposit growth and higher repo liabilities. Cotpbank 15

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