...November 11, 2022 FRANKFURT (S&P Global Ratings) Nov. 11, 2022--S&P Global Ratings said today that the third quarter results of OTP Bank PLC (###/Negative/A-2) show that the bank is holding firm against inflationary pressure as disruptions at its Russian and Ukrainian operations continue to weigh on performance. Russia's military intervention in Ukraine, and the subsequent international sanctions, have impeded the financial system and consequently OTP's businesses in those countries, which account for 7.4% of group assets. So far, the developments continue to support our rating analysis of OTP, but tail risks to our forecast remain. Our negative outlook on OTP factors in the possibility that macroeconomic conditions could significantly worsen, which could weaken asset quality or reduce capitalization well beyond our base case. In addition, we note that the bank could see substantial losses on its equity investments in Russia or Ukraine. OTP's Hungarian forint (HUF) 189 billion (472 million)...
