OTP Bank Plc

Quarterly Report • Nov 7, 2025

OTP BANK PLC.

SEPARATE FINANCIAL STATEMENTS IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS ADOPTED BY THE EUROPEAN UNION

FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025

OTP BANK PLC.

CONTENTS

	SEPARATE STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025 3
	SEPARATE CONDENSED STATEMENT OF PROFIT OR LOSS FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn) 4
	SEPARATE CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn) 5
	SEPARATE STATEMENT OF CHANGES IN EQUITY FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn) 6
	SEPARATE CONDENSED STATEMENT OF CASH FLOWS FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) 7
NOTE 1:	ORGANIZATION AND BASIS OF FINANCIAL STATEMENTS 8
1.1.	General information 8
1.2.	Accounting 8
NOTE 2:	SIGNIFICANT EVENTS DURING THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 8
NOTE 3:	SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD 10
NOTE 4:	FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS (in HUF mn) 11
NOTE 5:	SECURITIES AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (in HUF mn) 11
NOTE 6:	SECURITIES AT AMORTISED COST (in HUF mn) 12
NOTE 7:	LOANS (in HUF mn) 12
NOTE 8:	INVESTMENTS IN SUBSIDIARIES, ASSOCIATES, JOINT VENTURES AND OTHER INVESTMENTS (in HUF mn) 13
NOTE 9:	DEPOSITS FROM CUSTOMERS (in HUF mn) 14
NOTE 10:	LIABILITIES FROM ISSUED SECURITIES (in HUF mn) 14
NOTE 11:	OFF-BALANCE SHEET ITEMS (in HUF mn) 16
NOTE 12:	DERIVATIVE FINANCIAL INSTRUMENTS (in HUF mn) [continued] 17
NOTE 13:	INTEREST INCOME AND EXPENSES (in HUF mn) 19

OTP BANK PLC. SEPARATE STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn)

	Note	30 September 2025	31 December 2024	30 September 2024
Cash, amounts due from banks and balances with the
National Bank of Hungary		2,645,855	2,075,179	2,437,505
Placements with other banks		2,872,655	2,948,536	2,865,112
Repo receivables		256,361	238,079	167,299
Financial assets at fair value through profit or loss	4.	310,612	651,236	231,464
Financial assets at fair value through other comprehensive income	5.	936,277	592,602	657,350
Securities at amortised cost	6.	3,788,816	3,334,145	4,146,620
Loans at amortised cost	7.	4,891,401	4,670,795	4,524,347
Loans mandatorily measured at fair value through profit or
loss	7.	1,065,701	998,410	980,630
Investments in subsidiaries	8.	2,189,481	2,169,031	2,161,995
Property and equipment		113,657	111,772	109,888
Intangible assets		173,436	137,860	111,255
Right of use assets		56,520	58,956	63,341
Investment properties		4,363	4,227	4,263
Current tax assets		2,660	-	3,278
Derivative financial assets designated as hedge accounting
relationships		38,450	43,130	34,565
Other assets		402,932	357,095	338,885
TOTAL ASSETS		19,749,177	18,391,053	18,837,797
Amounts due to banks and deposits from the National
Bank of Hungary and other banks		1,719,279	1,606,969	2,120,157
Repo liabilities		697,952	227,632	634,506
Deposits from customers	9.	11,690,118	10,891,924	10,920,163
Fair value changes of the hedged items in portfolio hedge
of interest rate risk		2,245	4,303	3,923
Leasing liabilities		60,951	64,380	67,689
Liabilities from issued securities	10.	1,373,682	1,750,893	1,517,295
Financial liabilities designated at fair value through profit
or loss		15,397	17,024	18,490
Derivative financial liabilities designated as held for
trading		128,246	144,499	110,781
Derivative financial liabilities designated as hedge
accounting relationships		12,219	19,438	19,078
Deferred tax liabilities		1,977	1,707	2,246
Current tax liabilities		10,506	23,591	19,770
Provisions		23,916	25,647	27,143
Other liabilities		518,178	449,522	245,956
Subordinated bonds and loans		500,075	362,271	346,403
TOTAL LIABILITIES		16,754,741	15,589,800	16,053,600
Share capital		28,000	28,000	28,000
Retained earnings and reserves		3,228,826	2,896,319	2,831,796
Treasury shares		(262,390)	(123,066)	(75,599)
TOTAL SHAREHOLDERS' EQUITY		2,994,436	2,801,253	2,784,197
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY		19,749,177	18,391,053	18,837,797

OTP BANK PLC. SEPARATE CONDENSED STATEMENT OF PROFIT OR LOSS FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn)

	Nine month period ended 30 September 2025	Nine month period ended 30 September 2024	Year ended 31 December 2024
Interest income and similar to interest income total Interest expenses total	1,135,065 (697,310)	1,242,805 (855,581)	1,626,153 (1,107,551)
NET INTEREST INCOME	437,755	387,224	518,602
Risk cost total	(36,024)	(29,885)	(53,455)
NET INTEREST INCOME AFTER RISK COST	401,731	357,339	465,147
Gains / (Losses) arising from derecognition of financial assets measured at amortised cost Modification loss Net profit from fees and commissions Net operating income Other administrative expenses	(3,145) (781) 322,301 457,082 (541,634)	(8,974) (1,125) 266,431 516,739 (393,039)	(9,856) (1,999) 376,349 529,862 (547,947)
PROFIT BEFORE INCOME TAX	635,554	737,371	811,556
Income tax expense	(52,249)	(52,998)	(66,557)
PROFIT AFTER INCOME TAX	583,305	684,373	744,999
Earnings per share (in HUF) Basic Diluted	2,159 2,159	2,465 2,465	2,692 2,692

OTP BANK PLC. SEPARATE CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn)

	Nine month period ended 30 September 2025	Nine month period ended 30 September 2024	Year ended 31 December 2024
PROFIT AFTER INCOME TAX	583,305	684,373	744,999
Items that may be reclassified subsequently to profit or loss:
Fair value adjustment of debt instruments at fair value through other comprehensive income Deferred tax related to fair value adjustment of debt instruments at fair value through other comprehensive	1,497	15,220	9,751
income	(100)	(1,348)	(848)
Gains / (Losses) on separated currency spread of financial instruments designated as hedging instrument Deferred tax related to (losses) / gains on separated	1,070	(648)	(359)
currency spread of financial instruments designated as hedging instrument (Losses) / Gains on derivative financial instruments	(96)	58	32
designated as cash flow hedge	911	959	136
Items that will not be reclassified to profit or loss:
Fair value adjustment of equity instruments at fair value through other comprehensive income Deferred tax related to equity instruments at fair value	(839)	2,392	11,547
through other comprehensive income	95	(270)	(1,305)
Total	2,538	16,363	18,954
TOTAL COMPREHENSIVE INCOME	585,843	700,736	763,953

OTP BANK PLC. SEPARATE STATEMENT OF CHANGES IN EQUITY FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn)

	Share Capital	Capital reserve	Retained earnings and other reserves	Treasury Shares	Total
Balance as at 1 January 2024	28,000	52	2,276,707	(6,154)	2,298,605
Profit after income tax	‐	‐	684,373	‐	684,373
Other comprehensive income	-	-	16,363	-	16,363
Total comprehensive income	‐	‐	700,736	‐	700,736
Share-based payment	-	-	3,017	-	3,017
Sale of treasury shares	-	-	‐	34,058	34,058
Acquisition of treasury shares	-	-	‐	(103,503)	(103,503)
Loss on treasury shares	-	-	1,284	-	1,284
Dividend for the year 2023	-	-	(150,000)	-	(150,000)
Other transaction with owners	‐	‐	(145,699)	(69,445)	(215,144)
Balance as at 30 September 2024	28,000	52	2,831,744	(75,599)	2,784,197
Balance as at 1 January 2025	28,000	52	2,896,267	(123,066)	2,801,253
Profit after income tax	‐	‐	583,305	‐	583,305
Other comprehensive income	-	-	2,538	-	2,538
Total comprehensive income	‐	‐	585,843	‐	585,843
Share-based payment	-	-	3,663	-	3,663
Sale of treasury shares	-	-	‐	41,836	41,836
Acquisition of treasury shares	-	-	‐	(181,160)	(181,160)
Loss on sale of treasury shares	-	-	13,001	-	13,001
Dividend for the year 2024	-	-	(270,000)	-	(270,000)
Other transaction with owners	‐	‐	(253,336)	(139,324)	(392,660)
Balance as at 30 September 2025	28,000	52	3,228,774	(262,390)	2,994,436

OTP BANK PLC. SEPARATE CONDENSED STATEMENT OF CASH FLOWS FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025 (UNAUDITED) (in HUF mn)

	Nine month period ended 30 September 2025	Nine month period ended 30 September 2024	Year ended 31 December 2024
Profit before income tax	635,554	737,371	811,556
Net accrued interest	(36,202)	65,544	8,015
Income tax paid	(56,321)	(37,966)	(37,966)
Depreciation and amortization	56,075	44,663	63,700
Loss allowance / (Release of loss allowance)	50,509	40,361	74,109
Share-based payment	3,663	3,017	4,411
Unrealised losses / (gains) on fair value adjustment of financial instruments at fair value through profit or
loss	6,383	(29,991)	(31,315)
Unrealised gains on fair value adjustment of derivative
financial instruments	(2,710)	(15,901)	(21,014)
Gains on securities	650	7,531	7,017
Interest expense from leasing liabilities	1,831	(2,043)	(2,495)
Foreign exchange gain / (loss)	(69,658)	51,727	69,407
Proceeds from sale of tangible and intangible assets	(348)	(70)	19
Net change in assets and liabilities in operating
activities	1,240,624	193,726	(1,314,984)
Net cash provided by operating activities	1,830,050	1,057,969	(369,540)
Net cash used in investing activities	(622,142)	(1,217,549)	(282,355)
Net cash used in financing activities	(459,780)	(147,697)	(1,194)
Net increase / (decrease) in cash and cash equivalents	748,128	(307,277)	(653,089)
Cash and cash equivalents at the beginning of the year	911,836	1,564,925	1,564,925
Cash and cash equivalents at the end of the year	1,659,964	1,257,648	911,836

NOTE 1: ORGANIZATION AND BASIS OF FINANCIAL STATEMENTS

1.1. General information

These interim condensed financial statements had been prepared in accordance with the prescriptions of IAS 34.

1.2. Accounting

The Bank maintains its accounting records and prepares its statutory accounts in accordance with the commercial, banking and fiscal regulations prevailing in Hungary.

The presentation and the functional currency of the Bank is the Hungarian Forint ("HUF").

The Bank followed the same accounting policies and methods of computation in the interim financial statements as compared with the most recent annual financial statements.

NOTE 2: SIGNIFICANT EVENTS DURING THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025

1) USD 750 million bond issuance

See details about the event in Note 10.

2) EUR 500 million bond recall

See details about the event in Note 10.

3) EUR 650 million bond recall

See details about the event in Note 10.

4) Constitutional complaint related to Interest Rate Cap

On 30 May 2025 OTP Bank with several other market participants submitted a constitutional complaint at the Constitutional Court, related to the so-called "Interest-rate cap Decree" that is "Government Decree 782/2021. (XII. 24.) on the different application of Act CLXII of 2009 on consumer credit in a state of emergency" and its latest amendment dated 2 December 2024 (Government Decree 374/2024 (XII.2.)).

According to OTP Bank's standpoint the above-mentioned Government Decree intervenes in private legal relations retrospectively, unnecessarily and disproportionately without constitutional justification, thus the applicants request the Constitutional Court to determine that the provisions of and that the latest extension of the application of the Government decree violates the Constitution.

5) EUR 75 million bond recall

See details about the event in Note 10.

6) EUR 110 million bond recall

See details about the event in Note 10.

7) CNY 900 million bond issuance

See details about the event in Note 10.

8) Direct ownership of OTP Bank

OTP Bank Plc. acquires the 100% stake of Balansz Zárkörű Nyíltvégű Intézményi Ingatlan Alap in Mendota Invest Nepremičninska Družba d.o.o. The closing of the sale and purchase of Mendota Invest Nepremičninska Družba d.o.o. may take place at a later date, subject to obtaining the relevant regulatory approval.

NOTE 2: SIGNIFICANT EVENTS DURING THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2025

9) USD 60 million bond redemption

See details about the event in Note 10.

10) Acquisition of asset management company in Slovenia

OTP Bank's two wholly-owned subsidiaries, OTP Alapkezelő Zrt. and OTP Banka d.d. (hereinafter: OTP banka Slovenia) signed a sale and purchase agreement in Slovenia on September 19. 2025, according to which they will jointly acquire a 100% stake in the fund management company Primorski skladi d.o.o., Koper from the Dutch parent company Elektronček Group B.V. (EGBV). Under the transaction, OTP Alapkezelő Zrt. will acquire a 75% stake in the target company, while OTP banka Slovenia will acquire a 25% stake. The transaction is expected to be financially closed in the first quarter of 2026, subject to obtaining the necessary regulatory approvals.

NOTE 3: SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD

Post-balance sheet events cover the period until 3 November 2025.

• On 1 October 2025, OTP Mortgage Bank issued mortgage bonds with a total nominal value of EUR 500 million. The bonds were rated 'A1' by Moody's Investor Service.
• On 6 October 2025, the Government launched a new fixed 3% interest loan programme for businesses as part of the Széchenyi Card Programme. The initiative aims to support the liquidity of domestic small and mediumsized enterprises (SMEs) and encourage their investments to stimulate the economy. The liquidity and investment loans available under the programme are freely usable and can be accessed quickly and easily. In 2026, the Government will allocate HUF 60 billion for interest subsidies, while the total support for the Széchenyi Card system will reach HUF 320 billion.
• On 10 October 2025, S&P Global Ratings affirmed Hungary's 'BBB-' credit rating, with a negative outlook.
• On 13 October 2025, OTP Bank Plc. recalled its Senior Preferred bond series with a nominal value of RON 170 million, originally maturing in 2026. Bondholders received the nominal value and accumulated, unpaid interest.
• On 13 October 2025, the Government and OTP Bank announced their joint financing of the comprehensive renovation of the Gödöllő Royal Palace. The total project budget is HUF 40 billion, with OTP Bank contributing HUF 20 billion, aligning with the Bank's corporate social responsibility (CSR) activities. The donation to be provided by OTP Bank Plc. will be disbursed in 2026, while its accounting will take place in the fourth quarter of 2025. Considering that donations given to foundations fulfilling public tasks may be considered as a corporate tax base-reducing item at 120% of their value, the donation will have a negative impact of HUF 17.84 billion on post-tax profit.
• On 15 October 2025, the conditions of the energy home renovation programme, targeting the modernisation of family homes built before 2007, were amended. The maximum amount available increased from HUF 6 million to HUF 10 million, of which HUF 5 million is a non-refundable grant and HUF 5 million can be taken as an interest-free loan. The required own contribution was reduced to 5%, mandatory contractor registration was abolished, and the range of eligible activities expanded to include shading devices, solar collectors, and control systems.
• At its interest rate decision meeting on 21 October 2025, the National Bank of Hungary left its policy rate unchanged at 6.5%.
• On 27 October 2025, the government submitted for public consultation a draft law under which public sector employees could be entitled to an annual home support of HUF 1 million from 2026. The support may be used as equity or for monthly mortgage repayments, up to HUF 83,333 per month, but cannot be used for early or final repayment.
• According to preliminary data published by the Central Statistical Office on 30 October 2025, the volume of Hungary's gross domestic product in the third quarter of 2025 was 0.6% higher based on raw data than in the same period of the previous year. Based on seasonally and calendar-adjusted, balanced data, economic performance stagnated compared to the previous quarter. In the first three quarters of the year, economic performance increased by 0.3% according to raw data and by 0.2% according to adjusted data year-on-year.
• On 30 October 2025, Moody's Ratings upgraded OTP Bank Plc.'s subordinated foreign currency debt rating to 'Ba1' from 'Ba2', and its long-term counterparty risk rating to 'A3' from 'Baa1'. Furthermore, the outlook for the 'Baa1' long-term deposit rating changed from positive to stable, and the outlook for the 'Baa3' senior unsecured debt rating changed from negative to stable. The rating agency affirmed OTP Bank Plc.'s other ratings.
• On 30 October 2025, Moody's Ratings upgraded OTP Mortgage Bank Plc.'s long-term counterparty risk rating to 'A3' from 'Baa1' and changed the outlook for its long-term forint issuer rating of 'Baa3' from negative to stable, while affirming OTP Mortgage Bank Plc.'s other ratings.
• On 31 October 2025, the Economic Committee of Parliament approved the amendment proposal No. T/12797, which aims to increase the current monthly limit for free cash withdrawals from two withdrawals totalling HUF 150,000 to HUF 300,000. According to our estimates, this measure could result in a revenue shortfall of HUF 6.5 billion per year, ceteris paribus.

NOTE 4: FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS (in HUF mn)

	30 September 2025	31 December 2024
Held for trading securities:
Government bonds	113,730	57,498
Other non-interest bearing securities	475	377
Hungarian government discounted Treasury Bills	5,176	207
Corporate shares and investments	2,143	1,197
Mortgage bonds	125	117
Other securities	16,467	388,597
Subtotal	138,116	447,993
Securities mandatorily measured at fair value through profit
or loss
Shares in investment funds	31,912	30,878
Bonds	(507)	‐
Shares	1,047	1,304
Subtotal	32,452	32,182
Held for trading derivative financial instruments:
Foreign currency swaps	39,392	63,309
Interest rate swaps	41,279	57,406
CCIRS and mark-to-market CCIRS swaps	32,546	20,730
Other derivative transactions	26,827	29,616
Subtotal	140,044	171,061
Total	310,612	651,236

NOTE 5: SECURITIES AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (in HUF mn)

	30 September 2025	31 December 2024
Securities at fair value through other comprehensive income
Government bonds	498,717	185,171
Mortgage bonds	358,856	326,950
Interest bearing treasury bills	‐	86
Other securities	44,784	46,461
Listed securities	35,850	9,525
Non-listed securities	8,934	36,936
Subtotal	902,357	558,668
Non-trading equity instruments
Non-listed securities	33,920	33,934
	33,920	33,934
Securities at fair value through other comprehensive income
total	936,277	592,602

NOTE 6: SECURITIES AT AMORTISED COST (in HUF mn)

	30 September 2025	31 December 2024
Government bonds	3,076,117	2,904,452
Other bonds	719,067	345,418
Treasury bills	2,756	93,259
Mortgage bonds	30,324	29,927
Subtotal	3,828,264	3,373,056
Loss allowance	(39,448)	(38,911)
Total	3,788,816	3,334,145
An analysis of change in the loss allowance on securities at amortised cost:
	30 September 2025	31 December 2024
Balance as at 1 January	38,911	26,225
Loss allowance	8,646	22,001
Release of loss allowance	(4,531)	(11,433)
FX movement	(3,578)	2,118
Closing balance	39,448	38,911
NOTE 7: LOANS (in HUF mn)
Loans measured at fair value through profit or loss
	30 September 2025	31 December 2024
Within one year	60,289	45,362
Over one year	1,005,412	953,048
Loans measured at fair value through profit or loss total	1,065,701	998,410
Loans measured at fair value through profit or loss are mandatorily measured at fair value through profit or loss.
Loans measured at amortised cost, net of allowance for loan losses
	30 September 2025	31 December 2024
Within one year	2,421,158	2,415,594
Over one year	2,621,402	2,399,947
Loans at amortised cost gross total	5,042,560	4,815,541
Loss allowance on loan losses	(151,159)	(144,746)
Loans at amortised cost total	4,891,401	4,670,795
An analysis of the loan portfolio by currency (%):
	30 September 2025	31 December 2024
In HUF	63%	64%
In foreign currency	37%	36%
Total	100%	100%

NOTE 7: LOANS (in HUF mn) [continued]

An analysis of the change in the loss allowance on loans at amortised cost is as follows:

	30 September 2025	31 December 2024
Balance as at 1 January	144,746	147,415
Loss allowance	155,733	266,410
Release of loss allowance	(130,355)	(238,441)
Use of loss allowance	(12,808)	(25,572)
Partial write-off	(3,236)	(8,065)
FX movement	(2,921)	2,999
Closing balance	151,159	144,746

NOTE 8: INVESTMENTS IN SUBSIDIARIES, ASSOCIATES, JOINT VENTURES AND OTHER INVESTMENTS (in HUF mn)

	30 September 2025	31 December 2024
Investments in subsidiaries:
Controlling interest	2,599,401	2,566,076
Other	28,412	27,646
Subtotal	2,627,813	2,593,722
Impairment loss	(438,332)	(424,691)
Total	2,189,481	2,169,031

An analysis of the change in the impairment loss is as follows:

	30 September 2025	31 December 2024
Balance as at 1 January	424,691	418,115
Impairment loss for the period	14,930	13,517
Reversal of impairment loss	(1,289)	(2,430)
Use of impairment loss	‐	(4,511)
Closing balance	438,332	424,691

NOTE 9: DEPOSITS FROM CUSTOMERS (in HUF mn)

	30 September 2025	31 December 2024
Within one year:	11,664,296	10,872,123
Over one year:	28,067	24,104
Total	11,692,363	10,896,227

An analysis of deposits from customers by type, not including accrued interest, is as follows:

	30 September 2025		31 December 2024
Household deposits	5,333,819	46%	5,024,279	46%
Deposits to medium and large corporates	5,398,931	46%	5,032,072	46%
Municipality deposits	959,612	8%	839,876	8%
Total	11,692,362	100%	10,896,227	100%

NOTE 10: LIABILITIES FROM ISSUED SECURITIES (in HUF mn)

	30 September 2025	31 December 2024
Within one year: Over one year:	173,084	130,214
	1,200,598	1,620,679
Total	1,373,682	1,750,893

A significant event related to the bond issue and redemption

Isssuance of USD 750 mn notes

Notes (ISIN: XS2988670878) have been issued on 30 January 2025 as value date in the aggregate nominal amount of USD 750 million. The notes are rated 'Ba2' by Moody's Investor Services Cyprus Ltd., 'BB' by S&P Global Ratings Europe Limited and 'BB+' by Scope Ratings GmbH. The notes are listed on the Luxembourg Stock Exchange.

Recall of EUR 500 mn bond

EUR 500 million Fixed to Floating Rate Perpetual Subordinated Notes (ISIN: XS0274147296) have been redeemed on 7 February 2025 and the principal amount, together with accrued and unpaid interest was paid to the holders of the notes. Following the redemption, the notes have been cancelled pursuant to terms and conditions of the notes.

NOTE 10: LIABILITIES FROM ISSUED SECURITIES (in HUF mn) [continued]

Recall of EUR 650 mn bond

EUR 650 million 7.350 per cent Senior Preferred Fixed-to-Floating Callable Notes due 2026 (XS2560693181) have been redeemed on 4 March 2025 and the principal amount, together with accrued and unpaid interest was paid to the holders of the notes. Following the redemption, the notes have been cancelled pursuant to terms and conditions of the notes.

Recall of EUR 75 mn bond

Notes have been redeemed on 23 June 2025 and the principal amount, together with accrued and unpaid interest was paid to the holders of the Notes. Following the redemption, the Notes have been cancelled pursuant to terms and conditions of the Notes.

Recall of EUR 110 mn bond

Notes have been redeemed on 27 June 2025 and the principal amount, together with accrued and unpaid interest was paid to the holders of the Notes. Following the redemption, the Notes have been cancelled pursuant to terms and conditions of the Notes.

Isssuance of CNY 900 mn notes

Green Notes (ISIN: XS3102027383) have been issued on 30 June 2025 as value date in the aggregate nominal amount of 900 million Chinese yuan. The notes are rated 'BBB+' by Scope Ratings GmbH. The notes are listed on the Luxembourg Stock Exchange.

Redemption of USD 60 mn notes

The Bank has decided to exercise its optional redemption right and redeem the Notes in full on 29 September 2025 pursuant to Condition 10 (Redemption and Purchase) of the terms and conditions of the Notes. The Notes have been redeemed at their principal amount, together with any accrued and unpaid interest thereon to (but excluding) 29 September 2025.

NOTE 11: OFF-BALANCE SHEET ITEMS (in HUF mn)

In the normal course of business, the Bank becomes a party to various financial transactions that are not reflected on the statement of financial position and are referred to as off-balance sheet financial instruments. The following represents notional amounts of these off-balance sheet financial instruments, unless stated otherwise.

Contingent liabilities and commitments

	30 September	31 December
	2025	2024
Loan commitments	2,631,775	2,536,990
Guarantees arising from banking activities	1,906,219	1,903,718
from this: Payment undertaking liabilities (related to issue of
mortgage bonds) of OTP Mortgage Bank	971,897	1,004,209
Factoring loan commitments	393,962	382,011
Confirmed letters of credit	13,221	5,181
Contingent liabilities and commitments total in accordance
with IFRS 9	4,945,177	4,827,900
Legal disputes (disputed value)	4,766	4,825
Contingent liabilities related to payments from shares in venture
capital fund	11,841	18,006
Indemnity related to sale of OTP Bank Romania	51,744	54,255
Other	41	91
Contingent liabilities and commitments total in accordance
with IAS 37	68,392	77,177
Total	5,013,569	4,905,077

At the balance sheet date the Bank was involved in various claims and legal proceedings of a nature considered normal to its business. The level of these claims and legal proceedings corresponds to the level of claims and legal proceedings in previous years.

The Bank believes that the various asserted claims and litigations in which it is involved will not materially affect its financial position, future operating results or cash flows, although no assurance can be given with respect to the ultimate outcome of any such claim or litigation. Provision due to legal disputes was HUF 258 million and HUF 283 million as at 30 September 2025 and 31 December 2024, respectively.

NOTE 12: DERIVATIVE FINANCIAL INSTRUMENTS (in HUF mn) [continued]

Fair value of derivative instruments

Positive fair values of derivative instruments designated as hedge accounting relationships are presented separately in the statement of financial position, while positive fair values of derivative instruments classified as held for trading are included in financial assets at fair value through profit or loss. Negative fair values of hedging derivative instruments are presented separately in the statement of financial position, negative fair values of derivatives held for trading are included in the negative fair value of derivative financial instruments classified as held for trading line.

The Bank has the following held for trading derivatives and derivatives designated as hedge accounting:

		30 September 2025				31 December 2024
		Before netting Netting After netting		Before netting		Netting		After netting
	Assets	Liabilities		Assets	Liabilities	Assets	Liabilities		Assets	Liabilities
Held for trading derivative financial instruments
Interest rate derivatives
Interest rate swaps	88,011	(72,868)	74,493	13,518	1,625	104,130	(88,266)	89,523	14,607	1,257
Cross currency interest rate swaps	4,831	(4,274)	-	4,831	(4,274)	10,472	(10,558)	-	10,472	(10,558)
OTC options	406	(406)	-	406	(406)	462	(462)	-	462	(462)
Forward rate agreement	518	(38)	518	-	480	219	(172)	219	-	47
Total interest rate derivatives (OTC derivatives)	93,766	(77,586)	75,011	18,755	(2,575)	115,283	(99,458)	89,742	25,541	(9,716)
From this: Interest rate derivatives cleared by NBH	601	-	-	601	-	906	-	-	906	-
Foreign exchange derivatives
Foreign exchange swaps	37,434	(44,321)	-	37,434	(44,321)	53,620	(48,969)	-	53,620	(48,969)
Foreign exchange forward	10,170	(14,751)	-	10,170	(14,751)	15,736	(8,440)	-	15,736	(8,440)
OTC options	2,446	(2,109)	-	2,446	(2,109)	1,433	(825)	-	1,433	(825)
Foreign exchange spot conversion	305	(321)	-	305	(321)	179	(266)	-	179	(266)
Total foreign exchange derivatives (OTC derivatives)	50,355	(61,502)	-	50,355	(61,502)	70,968	(58,500)	-	70,968	(58,500)

NOTE 12: DERIVATIVE FINANCIAL INSTRUMENTS (in HUF mn) [continued]

Fair value of derivative instruments

The Bank has the following held for trading derivatives and derivatives designated as hedge accounting:

	30 September 2025				31 December 2024
	Before netting		Netting	After netting		Before netting		Netting	After netting
	Assets	Liabilities		Assets	Liabilities	Assets	Liabilities		Assets	Liabilities
Equity stock and index derivatives
Commodity Swaps	4,958	(3,092)	-	4,958	(3,092)	10,475	(10,616)	-	10,475	(10,616)
Equity swaps	8,072	-	-	8,072	-	-	(1,194)	-	-	(1,194)
OTC derivatives	13,030	(3,092)	-	13,030	(3,092)	10,475	(11,810)	-	10,475	(11,810)
Exchange traded futures and options	470	(2,232)	-	470	(2,232)	1,331	(728)	-	1,331	(728)
Total equity stock and index derivatives	13,500	(5,324)	-	13,500	(5,324)	11,806	(12,538)	-	11,806	(12,538)
Derivatives held for risk management not designated in hedges
Interest rate swaps	47,249	(53,113)	19,488	27,761	(33,625)	71,779	(82,909)	28,980	42,799	(53,929)
Foreign exchange swaps	1,958	(21,239)	-	1,958	(21,239)	9,689	(8,675)	-	9,689	(8,675)
Forward	-	-	-	-	-	-	(72)	-	-	(72)
Cross currency interest rate swaps	27,715	(3,981)	-	27,715	(3,981)	10,258	(1,069)	-	10,258	(1,069)
Total derivatives held for risk management not designated in
hedges	76,922	(78,333)	19,488	57,434	(58,845)	91,726	(92,725)	28,980	62,746	(63,745)
From this: Total derivatives cleared by NBH held for risk management	21,835	-	-	21,835	-	28,788	-	-	28,788	-
Total Held for trading derivative financial instruments	234,543	(222,745)	94,499	140,044	(128,246)	289,783	(263,221)	118,722	171,061	(144,499)
Derivative financial instruments designated as hedge accounting relationships
Derivatives designated in cash flow hedges
Interest rate swaps	-	(6,194)	6,194	(6,194)	-	1	(8,453)	8,453	(8,452)	-
Total derivatives designated in cash flow hedges	-	(6,194)	6,194	(6,194)	-	1	(8,453)	8,453	(8,452)	-
Derivatives designated in fair value hedges
Interest rate swaps	50,927	(17,219)	17,147	33,780	(72)	53,401	(19,975)	19,957	33,444	(18)
Cross currency interest rate swaps	2,730	(12,147)	-	2,730	(12,147)	13,903	(19,420)	-	13,903	(19,420)
Total derivatives designated in fair value microhedges	53,657	(29,366)	17,147	36,510	(12,219)	67,304	(39,395)	19,957	47,347	(19,438)
Interest rate swaps	8,238	(104)	104	8,134	-	4,235	-	-	4,235	-
Total derivatives designated in fair value macrohedges	8,238	(104)	104	8,134	-	4,235	-	-	4,235	-
From this: Total derivatives cleared by NBH held for hedging	-	(1,232)	-	-	(1,232)	-	(1,764)	-	-	(1,764)
Total derivatives held for risk management (OTC derivatives)	61,895	(35,664)	23,445	38,450	(12,219)	71,540	(47,848)	28,410	43,130	(19,438)

NOTE 13: INTEREST INCOME AND EXPENSES (in HUF mn)

	Nine month period ended 30 September 2025	Nine month period ended 30 September 2024	Year ended 31 December 2024
Interest income accounted for using the effective
interest rate method from / on
Loans at amortised cost	305,128	331,850	437,745
FVOCI securities	26,447	22,621	30,311
Securities at amortised cost	133,796	170,385	216,762
Placements with other banks	124,973	134,141	179,241
Financial liabilities	110	174	214
Amounts due from banks and balances with National
Bank of Hungary	107,703	126,885	161,598
Repo receivables	14,438	11,545	14,663
Subtotal	712,595	797,601	1,040,534
Income similar to interest income Loans mandatorily measured at fair value through
profit or loss	57,726	45,673	62,663
Swap and forward deals related to Placements with
other banks	327,999	364,054	478,199
Swap and forward deals related to Loans at amortised
cost	31,315	27,699	35,034
Swap and forward deals related to FVOCI securities	5,424	7,771	9,714
Investment properties	6	7	9
Subtotal	422,470	445,204	585,619
Interest income total	1,135,065	1,242,805	1,626,153
Interest expense due to / from / on
Amounts due to banks and deposits from the National
Bank of Hungary and other banks	377,724	441,665	583,183
Deposits from customers	184,652	250,959	314,695
Leasing liabilities	2,276	2,534	3,147
Liabilities from issued securities	60,853	76,225	103,579
Subordinated bonds and loans	29,591	22,994	30,163
Investment properties (depreciation)	119	111	149
Financial assets	1	1,733	2,139
Repo liabilities	42,094	59,360	70,496
Interest expense total	697,310	855,581	1,107,551