NOTE 1:
ORGANIZATION AND BASIS OF FINANCIAL STATEMENTS
1.1.
General information
OTP
Bank
Plc.
("Bank"
or
"OTP
Bank")
was
established
on
31
December
1990,
when
the
previously
State-owned
company was transformed into a limited liability company.
The
Bank’s
registered
office
address
is
16,
Nádor
Street,
Budapest
1051.
Internet
homepage:
http://www.otpbank.hu/
Signatory
of
the
separate
financial
statements
is
the
Chief
Executive
Officer,
dr.
Sándor
Csányi
and
Deputy
Chief
Executive Officer, László Wolf.
The Bank’s owners have the power to amend the separate financial statements after issue if applicable.
These financial statements are authorised for issue on 31 March 2023 by the Board of Directors.
Responsible
person
for
the
control
and
management
of
accounting
services:
Zoltán
Tuboly
(Budapest),
Managing
Director
of
Accounting
and
Financial
Directorate,
Registration
Number:
177289,
IFRS
qualified
chartered
accountant.
Due
to
Hungarian
legislation
audit
services
are
statutory
for
OTP
Bank.
Disclosure
information
about
the
auditor:
Ernst
&
Young
Audit
Ltd.
(001165),
1132
Budapest
Váci
Street
20.
Registered
under
01-09-267553
by
Budapest-
Capital
Regional
Court,
as
registry
court.
Statutory
registered
auditor:
Zsuzsanna
Nagyváradiné
Szépfalvi,
registration number: 005313.
Audit
service
fee
agreed
by
the
Annual
General
Meeting
of
the
Bank
for
the
year
ended
2022
is
an
amount
of
HUF
165 million + VAT.
All
other
fees
charged
by
the
Auditor
for
non-audit
services
during
the
financial
year
are
disclosed
in
the
consolidated financial statements of the Bank.
In
1995,
the
shares
of
the
Bank
were
introduced
on
the
Budapest
and
the
Luxembourg
Stock
Exchanges
and
were
also traded on the SEAQ board on the London Stock Exchange and PORTAL in the USA.
The structure of the Share capital by shareholders (%):
Domestic and foreign private and institutional investors
The
Bank’s
Registered
Capital
consists
of
280.000.010
pieces
of
ordinary
shares
with
the
nominal
value
of
HUF
100 each, representing the same rights to the shareholders.
The
Bank
provides
a
full
range
of
commercial
banking
services
through
a
nationwide
network
of
352
branches
in
Hungary.
Average number of employees
1.2.
Basis of accounting
These
Separate
Financial
Statements
were
prepared
based
on
the
assumption
of
the
Management
that
the
Bank
will
remain
in
business
for
the
foreseeable
future.
The
Bank
will
not
be
forced
to
halt
operations
and
liquidate
its
assets in the near term at what may be very low fire-sale prices.
The
Bank
maintains
its
accounting
records
and
prepares
their
statutory
accounts
in
accordance
with
the
commercial, banking and fiscal regulations prevailing in Hungary.
The presentation and functional currency of the Bank is the Hungarian Forint ("HUF").
The
separate
financial
statements
have
been
prepared
in
accordance
with
International
Financial
Reporting
Standards (“IFRS”) as adopted by the European Union (“EU”).