OTP profit is growing mainly from Eastern European banks acquisitions.

The biggest Hungarian bank OTP Bank Nyrt. (OTP) acquired 5 banks in last year in Europe which improved about 8.4% 2Q profit. Net profit reached 50.7 mld HUF which is 184HUF per share. The street was looking for 50.5 mld HUF. This was the first quarter with Russian and Ukrainian consolidation. Profit from Bulgarian acquisition DSK is up year-to-year 38%. OTP shares price is YTD up by 13.3%, Hungarian benchmark index HTX 12.2% for the same period.