Development of the OTP Group in the Past 10 Years

OTP – 10 Years on the

Dr. Sándor Csányi Chairman and CEO

August 10, 2005 OTP has been transformed from an inefficient state monopoly intoan innovative market leader

OTP in 1991 OTP Group’s net profit OTP Group – present • The beginning of Million EUR, IAS* days transformation from a • The only independent national saving collector to bank group in the region, a universal retail bank The fundamentals of the successful 37.8% with a high level of • The entrance of Western transformation 560 transparency European resulted Product development • • Leading financial group in a sharp drop of market • Technological innovation with market share of share after liberalization 31.1% ~25% based on total • Large inefficient network • Performance-oriented corporate culture assets, ~30% based on of branches and 30.3% 521** • Focused local management deposits and ~40% based overrepresentation of 329 32.6% on profits poorer rural districts • Approaching Western • Lack of experience in FX 31.6% 251 European benchmarks in markets and corporate 30.0% 191 terms of operating banking 35.3% 149 efficiency, risk- • Low profitability (2% 111 117 122 management and ROE), high amount of marketing qualified loans outstanding 49 45 56 • ROE grew to 38% along • Reputation of an inflexible 6 with a decreasing share of and outdated bank 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 qualified loans • Successful foreign Privatisation: IPO Acquisition of Sale of the 25% IRB(OBS) DSK and Robank acquisitions share by the state first round Merkantil Group acquisition acquisitions • Permanently reaching/beating market ROAE expectations

* HUF/EUR annual average exchange rates between 1995 and 2004: 162,65; 191,15; 210,93; 240,98; 252,80; 260,04; 256,68; 242,97; 253,51; 251,68 “The most developing bank of the ** According to new IFRS standards decade in Central Eastern Europe” – EUROMONEY OTP Bank - 10 Years on the Stock Exchange 2 The share of the state fell to one golden share by October 1999 after the three stages of privatisation Current owners Date Event New owner Price March 31, 2005

Public limited company with 1992 Dec. 1990 ƒ International 100% state ownership 1993 2,0 development inst. Selling of dividend preferred ƒ State (0.3%) Sept. Hungarian private shares (3.9% of equity) 1992 investors 1994 6,7 ƒ Own shares Privatisation in exchange for 1995 compensation coupons Apr. 1994 Hungarian private ƒ Employees, 3,3 1996 20% ownership is sold by the investors management state Social security 1,7 ƒ Domestic private May 1995 1997 funds 2,0 investors Initial public offering (33%) ƒ Domestic institutions 1998 July 17- Private and HUF 1,200 21, 1995 institutional ($ 9.5) 83,9 ƒ Foreign institutions 1999 First trading day on the investors Aug 10, Stock Exchange 2000 1995 Issue of preferred (golden) 2001 Sept. 3 share Hungarian State 1997 2002 Second public offer Oct. 14- (25%) Private and HUF 6,010 2003 21, 1997 institutional ($ 30.4) investors 2004 Third public offer Oct. 18- (14%) Private and HUF 9,900 2005 22, 1999 institutional ($ 40.98) investors *Source: OTP’s stock exchange quarterly report, based on total

OTP Bank - 10 Years on the Stock Exchange 3 OTP Bank was the first to enter many new and innovative product segments and has retained its market leader position in most of them Market Services Market share in , 2004 eoy ranking 1992 Securities 24.8%(1) No. 1 1993 trading 1994 1995 9.4%(2) No. 4 Insurance 1996 1997 Investment 39.6%(3) No. 1 funds 1998

1999 Pension funds(4) 21.8%(5) No. 1 2000

(6) 2001 Car leasing 20.0% No. 2 2002 2003 Bankcards 56.0% No. 1 2004 Mortgage loans 2005 49.7%(7) No. 1

(1) Estimate based on households’ non-financial institution securities holdings; (2) Share calculated on insurance reserves; (3) Ratio calculated on investment funds’ net asset value; (4) The Bank established its voluntary pension fund in 1994, mandatory pension fund in 1997 and voluntary health fund in 2002; (5) Based on pension funds’ managed assets; (6) New vehicle sales market; (7) OTP Bank Group Source: MNB, BAMOSZ, PSZÁF data

OTP Bank - 10 Years on the Stock Exchange 4 OTP adopts state-of-the-art IT and business solutions to enhance its efficiency and customer satisfaction Increase in the number of Market share Main IT investments contracts (estimated) 1992 Telebanking Telebanking Automated TeleBANK, Thousand 1993 Integrated Information System 613 537 phase I. 435 1994 345 41 TeleBANK Center 179 58 1995 (live voice), Integrated Information System 1999 2000 2001 2002 2003 2004 1996 phase II. Internet banking 1997 Passive mobile bank Internet banking Thousand 1998 HomeB@NK 312 210 278 1999 60 133 74 Development of housing loans 0 2000 administration: PreLak 1999 2000 2001 2002 2003 2004 2001 SAP I., SUBA, Data Mobile banking Warehouse I. Mobile banking 2002 Thousand Active mobile bank 2003 43 SAP II., Data Warehouse II. 201 270 97 152 2004 Central Back Office supporting 4 35 2005 system Individual level performance 1999 2000 2001 2002 2003 2004 measurement

OTP Bank - 10 Years on the Stock Exchange 5 Today OTP Bank Group provides almost 4 million customers Introduced after 1991 with in Hungary Existed in 1991

OTP Bank’s market segments, distribution channels and products End of 2004

Customers Municipalities customers Corporate customers

43,000 Mass retail Small and Large corporates accounts* market ~10.000 private medium ~300 customers enterprises Over 3 million banking customers customers ~200,000 customers

Channels Branches ATM /POS Telebanking Internet Mobile Business Banking 437 1,400 ATMs 613,000 312,000 banking terminals consultants, 21,600 POSs; contracts contracts 270,000 ~13,000 Customer 50.2 mn ATM contracts referees transactions Products Accounts Loans Retail Credit/Debit Investment Mortgage loans Insurance financing cards fund EUR 3.9 bn 1.5 million More than EUR 9.7 bn EUR 600 333,350 credit management* outstanding** insurance 4 million loans million cards, EUR 3.1 million contracts retail outstanding outstanding 3.2 million debit assets managed current cards accounts

* Including municipal and pension funds ** With housing loans

OTP Bank - 10 Years on the Stock Exchange 6 Besides expansion the improvement of efficiency has been a priority of the management OTP Group OTP Group Cost/income ROAE Profit growth IFRS, percent IFRS, percent 19.2 1995-2004, percent 1995 73.1* * 24.2 1,922% 1996 74.2* * OTP Group 36.5 1997 71.1 * 35.3 1998 70.4 30.0 1999 69.8 31.6 2000 70.1 Hungarian banking 67.2 32.6 2001 sector** 684% 2002 66.7 30.3 2003 62.9 31.1 100% 2004 55.5 37.8 2005 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

* OTP Bank, non-consolidated IFRS ** Excluding Hungarian Development Bank (MFB) in 1998 and 2002 and excluding Postabank in 1998 Source: OTP Annual Report; HFSA Annual Report

OTP Bank - 10 Years on the Stock Exchange 7 OTP Bank has made significant progress towards establishing a regional financial group

OTP Bank Group in Central-Eastern Europe 2004 data, according to IFRS 1992 OTP Group * Number of branches ** 843 OTP subsidiaries OTP Banka Slovensko Number of clients ** ~8 million 1993 Total assets EUR16.9 bn Number of branches 68 Target countries Net profit EUR 560 m Number of clients 0.3 million Lengyelo . 1994 ROAE 37.8% Total assets EUR 0.9 bn Czech R. Cost/income ratio 55.5% Net profit EUR 2 m Ukra ine OTP Bank /RoBank / 1995 ROAE 3.5% 15 Cost/income ratio Number of branches 95.6% 0.03 million 1996 Market share in total Number of clients Total assets EUR 0.2 bn assets 2.8% Hungary MoldovaNet profit EUR 0.2 m 1997 0.7% Target countries of ROAE Cost/income ratio 80.6 % successful - 1998 Market share in total acquisitions Rom ania assets ~1% Bosnia - & 1999 Slovakia Nova Banka* ( Croatia ) Her zegovina Number of branches 92 Serbia - Montenegro 2000 Number of clients ~0.3 million DSK*** ( Bulgaria ) Bulgaria Total assets EUR 1.1 bn Bulgaria Number of branches 323 Net profit EUR 20 m Number of clients ~3.7 million 2001 ROAE 21.2% OTP Bank Total assets EUR 1.7 bn 2002 Cost/income ratio 84.0% Number of branches 437 Net profit EUR 37 m Romania Market share in total Number of clients ~3.5 million ROAE 21.4% assets 3.8% Total assets EUR12.4 bn Cost/income ratio 56.8% 2003 Net profit EUR 506 m Market share in total ROAE 38.2% assets 13.1% 2004 Croatia Cost/income ratio 44.2% Market share in total 2005 assets 19.4% * Consolidated data excluding Nova Banka ** Banks only *** DSK Group, according to Bulgarian IFRS OTP Bank - 10 Years on the Stock Exchange 8 Continuous trust of our clients is the greatest acknowledgement of our work in the past 10 years

OTP Bank has an outstanding reputation among retail clients Answers given in a questionnaire of GfK* in May 2005

„The financial institution has a good reputation” „Expert in financial issues” percent percent

2 51 2 49

2nd ranked bank 1 14 2nd ranked bank 1 13

0 102030405060 0 102030405060

„It has more attractive and interesting „I can recommend it to my best offers than other banks” friend” percent percent

2 2 48 55

2nd ranked bank 1 13 2nd ranked bank 1 14

0204060 0204060

* GfK Hungary Market Research Ltd.

OTP Bank - 10 Years on the Stock Exchange 9 Several foreign awards indicate OTP Bank’s success at the international level

Awards Adjudicator 1992 …… 1993 Best Bank in Hungary Global Finance Best Bank in Hungary EUROMONEY 1994 Best Bank in Hungary Global Finance Real Estate Developer of the Year International Real Estate Association 1995 Best Security Trading Firm in Hungary EUROMONEY The Most Developing Bank of the decade in CEE EUROMONEY 1996 Best Bank in Hungary EUROMONEY 1997 Best Bank in Hungary The Banker Best Bank in Hungary Global Finance 1998 Quality award by the American Dollar Funds JP Morgan Chase Best Internet Bank of the Year Index, HP, NBI RATINGS, 2005 Best Bank in Hungary EUROMONEY 1999 MOODY’S Best Bank in Hungary The Banker Long term deposits: A1 2000 Quality award by the American Dollar Funds Global Finance Short term deposits: P–1 Best Bank in Hungary The Banker Financial strength: B- 2001 Best Bank in Hungary Global Finance STANDARD & POOR’S 2002 Best Bank in Hungary EUROMONEY Long term rate: BBBpi Best Bank in Hungary The Banker FITCH IBCA 2003 Bank of the Year in Emerging Markets The Banker Safety: 2 Member of the 100 most valuable companies CAPITAL INTELLIGENCE 2004 in the world Business Week Long term: BBB Best Bank in Hungary EUROMONEY Short term: A-2 2005 Europe’s Best Regional Small Bank EUROMONEY

OTP Bank - 10 Years on the Stock Exchange 10 A share price growth of 64 times in HUF terms (47 times in EUR terms) reflects investors’ confidence Relative performance of OTP shares and its The market valuation of OTP is outstanding in benchmarks in the last 10 years, Europe 10 August 1995 – 5 August 2005, in euros Stock market capitalisation on 5 August 2005 / equity at 10 August 1995 = 100% the end of 2004

OTP Bank 4,7 5000 Komercni Banka 3.3 Bank Pekao 3.2 Banco Bilbao 3.0 OTP 4700% 3.0 4000 Ertse Bank 2.9 Lloyds TSB 2.8 2.8 UBS 2.7 3000 Bank Zachodni 2.6 2.5 Banco Popular Espanol 2.2 Mediobanca 2.2 2.2 2000 Fortis 2.1 BUX HBSC 2.1 2.1 1009% Banca Intesa 2.0 1000 Societe Generale 2.0 MS EU KBC 2.0 100% Unicredito 1.9 Bank 1.9 0 Index ABN Amro 1.8 Skandinaviska Eskilda 1.8 285% SanPaolo IMI 1.8

aug.05 1.8

Aug-95 Aug-96 Aug-97 Aug-98 Aug-99 Aug-00 Aug-01 Aug-02 Aug-03 Aug-04 Svenska 1.8 ING 1.7 1.7 BNP Paribas 1.7 Source: Bloomberg

OTP Bank - 10 Years on the Stock Exchange 11 OTP Bank developed into a major financial group in the past ten % Share of region Total In Central and years even in international comparison Eastern Europe 2004 Total Assets Net profit Market capitalization International presence €bn €mn € bn, 5 August, 2005 140 545 24% 59% CZ SK HU CR SE 33 322 11

PL HU CZ SK SL 467 -1 913 (1) 6% n.a. RO BU BO RU SE 30 486(1) 16 CR LA LI U ET

1,88 275 4 16 6% 220 12% 27 HU CZ SK RU CR

1,68 253 12% 2 16% 25 PL HU CZ SK SL 30 269

PL HU CZ SK CR 29 211 100% 100% 7 RO U BO RU BE 29 211 SL LI BU SE AL

2,13 265 PL CZ SK RO BU 12% 1 19% 28 31 405 BO CR T

17 560 100% 100% 9 HU SK BU RO CR 17 560

OTP Bank - 10 Years on the Stock Exchange (1) Before taxation Source: Corporate presentations 12 The Strategy of the OTP Bank Group 2005- 2009

OTP Bank – 10 Years on the Stock Exchange

Dr. Zoltán Spéder Deputy Chairman and CEO

August 10, 2005 Hungary’s macroeconomic framework in the next 5 years is determined by the convergence programme towards Euro adoption

Real GDP growth Budget deficit in % of GDP Year on year 4% 6% 3.5% 3.6% 3.4% 3.7% 5.4% 3.1% 4.8% Hungary 5% 3% Hungary 4% 3.4% 3.2% 1.9% 2.0% 3.0% 1.7% 1.8% 2% 3% 1.3% Maastricht criterion EU average 2% 1% 1%

0% 0% 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 Inflation Base rate Annual average Annual average 4% 8% 3.7% 3.5% 7.4% Hungary 7% 3.0% 5.8% 5.9% 5.6% 3% 6% 3.0% Hungary 2.0%2.1% 2.0% 5% 1.8% 5.0% 2% 1.6% 4% 3.2% 2.6% 2.9% 1.9% 3% 2.3% EU average 2.1% EU average 1% 2%

1%

0% 0% 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009

OTP Bank - 10 Years on the Stock Exchange 14 GDP growth rates in the countries of OTP’s foreign subsidiaries exceed that of Hungary Average real GDP growth Year on year

Hungary 3,5%

Bulgaria 4,7% • GDP growth rates in the countries of OTP’s subsidiaries exceed that of Hungary in the Croatia 3,7% next five years

Romania 5,1% • The least developed Romania and Bulgaria Slovakia 4,7% may have the highest GDP growth in the medium term EU 1,7%

0% 1% 2% 3% 4% 5% 6% • Slovakia already fulfils the Maastricht Base rate criterion for long term interest rates Annual average 12% • Bulgaria, adopting a currency board, is 11% 10% characterized by low inflation and low short 9% term interest rates Hungary 8% 7% Croatia 6% Romania • The convergence of interest rates may be 5% Slovakia slower in Romania where inflation well 4% EU and Bulgaria* 3% exceeds the region’s average 2% 1% 0% 2005 2006 2007 2008 2009 *Bulgaria has a currency board with zero premium over the ECB rate

OTP Bank - 10 Years on the Stock Exchange 15 The share of bank deposits among households’ financial assets will decrease gradually

The structure of households’ savings in Hungary Asset structure in the European Union 2003-2010, thousand billion forint, percent 2002-2003, percent

Thousand bn Ft 13,9 15,8 17,6 19,3 21,1 23,2 25,5 28,1

Other assets 100% CAGR 15% 13%13% 100% 90% 24% 28% 24% 33% 28% 13% 15% 16% 18% 33% Insurance and 90% 17% 19% 20% 22% 80% 15% 23% 15% pension funds 5% 5% 80% 5% 5% 12% 9,0%9% reserves 5% 6% 70% 6% 6% 12,0% 70% 12% Equity, other than 30% 60% 13% 19% 29% 29% 60% 30% 32% mutual fund shares 30% 30% 30% 30% 16% 11% 50% 38% 5,0% 50% 14% 38% 5% 8% 8% 8% 2% Mutual fund shares 8% 40% 10% 40% 8% 7% 10% 7% 7% 8% 2% 30% 7% 30% 46% 20% 43% 41% 40% 46% Securities, other 38% 36% 35% 20% 38% 34% 33% 34% 38% than shares 32% 34% 10% 27% 6% 10% 0% Currency and bank 2003 2004 2005 2006 2007 2008 2009 2010 0% deposits EU 15 Németo.Germany. Franciao France .Portug Portugalália SpainSpanyolo .

Sources: Eurostat, McKinsey, national banks, OTP Bank

OTP Bank - 10 Years on the Stock Exchange 16 In spite of the high debt burden relative to disposable income, households indebtedness may rise in Hungary Debt burden / disposable income (DI) of households, % Debt /DI 108 200 43 120 108 70 97 140 119 150 19 35 57 22 Debt 20 20 burden/ 20 DI 18 16 16 16 14 14 12 11 12 12 12 10 10 10 10 10 9 8 8 8 8 8 8 8 6 6 7 6 5 6 5 6 6 6 6 4 5 4 5 4 4 4 4 2 2 2 0 2003 2003 2003 2003 2003 2003 2003 2004 2004 2004 2004 2005 2009

ESP NL I P D Fr EMU UK USA Germ. CZ Hun. Hun. Interest rate burden Debt amortization Total debt burden

• While debt / income ratio is low in Hungary in international comparison, the debt burden / income ratio is close to EMU levels, because of higher interest rates and the shorter maturity of household debt. • Income growth, lower interest rates and the increase in the maturity of debt in the future may result in a significant rise in the debt / income ratio, while debt burden / income will increase only moderately.

Sources: national banks, (UK, Norges Bank, ECB, FED, Ceska Narodni Banka), OTP estimate

OTP Bank - 10 Years on the Stock Exchange 17 Banking penetration is driven by dynamic credit growth

Banking sector penetration in % of GDP 120 257% 100 80 • Banking sector penetration in Croatia and Slovakia exceeds that of 60 Hungary. 40 • Although the most dynamic growth is expected in Romania, banking 20 penetration until 2009 is not expected to reach the current Hungarian 0 level. EU EU 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2003 Hungary Bulgaria Croatia Romania Slovakia

• Corporate loans: • Deposit growth is Total deposits to GDP (%) corporate sector’s Total loans to GDP (%) expected to exceed financial need the pace of nominal 80 80 116 increases in the 70 GDP in Romania 70 96% years of 60 and Bulgaria. 60 convergence 50 50 40 • Deposit market is 40 • Household loans: 30 shrinking in 30 20 20 consumption is 10 Slovakia with the 10 expected to be the 0 expansion of other 0 key driver of GDP, financial EU EU 2003 2003 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 growth fuelled by 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 intermediaries fast increasing Hungary Bulgaria Hungary Bulgaria Croatia Romania Croatia Romania mortgage and Slovakia Slovakia consumption loans

OTP Bank - 10 Years on the Stock Exchange 18 In the Hungarian retail saving market the target is to retain the dominant position

Household deposits Investment funds Bn HUF OTP investment funds Targeted market share Bn HUFHousehold deposits of OTP Group Targeted market share 600 2005. 2700 CAGR 2004-2009 2005. CAGR 2004-2009 5.3% 500 12.3% 269.2 233.4 400 1800 231.2 36.1% 39.5% 300 20.6% 11.9% 550.9 1960.1 2009. 1710.5 200 371.6 900 1506.0 2009. 308.1 100

34.6% 0 0 32.5% 2004 fact 2005 forecast 2009 forecast 2004OTP fact Building 2005Society forecast deposits 2009 forecast Merkantil Bank, household deposits OTP deposits, foreign currency OTP de posits , HUF

Insurance reserves Pension fund savings Bn HUF Bn HUF Insurance reserves at OTP Group Targeted market share* OTP pension funds Targeted market share 300 900 2005. 2005. CAGR 2004-2009 CAGR 2004-2009 20.9 750 16.7% 9.5% 22.1% 21.1 200 600 21.0% 20.4% 450 15.9 781.0 100 14.3 192.8 2009. 300 2009. 84.4 102.9 8.8% 22.9 150 288.4 348.9 0 2004 fact 2005 forecast 2009 forecast 0 Non-life insurance resreves 2004 fact 2005 forecast 2009 forecast Life insurance resreves *Total – not only household - insurance reserves.

OTP Bank - 10 Years on the Stock Exchange 19 In the retail lending segment the bank focuses on the strengthening of foreign currency mortgage and consumption lending

BN HUF Mortgage loans Mort gage loans of the OTP Group 2500 Targeted market share 2005 Targeted market share 2009OTP 13.9 OTP Bank CAGR 2004-2009 Bank 2000 18.9% 3.2% 7.4% OTP 1500 OTP Mortgage 20.4% 8.3 2096.6 Mortgage 48.5% Bank 1000 7.9 49.5% Bank 45.0% 966.0 770.3 41.7% 500 0.3% 170.4 167.3 146.4 0.4% 0 OTP-BS OTP-BS 2004 fact 2005 forecast 2009 forecast OTP Bank OTP Mortgage Bank OTP Building Society

Consumption loans Bn HUF Consumption loans of OTP Group 1000 Targeted market share 2005 Targeted market share 2009

800 69.5

CAGR 2004-2009 OTP OTP 28.1% 600 221.6 Bank Bank 20.1% 38.5% 25.9% 400 53.3% 3.9 27.6% 34.3 99.5 519.3 9.6% Merkantil 200 7.5% B ank 200.9 257.1 3.0% 0 OTP MB Merkantil 2004 fact 2005 forecast 2009 forecast Bank OTP Bank Merkantil Bank OTP Mortgage Bank

OTP Bank - 10 Years on the Stock Exchange 20 In the case of the foreign subsidiaries the target is to significantly increase their market share BulgariaSlovakia Romania Croatia DSK18.7% Bank 3.5%OBS RoBank Nova4.6% Banka 16.0% 2.8% 3.9% 3.3% 13.1% 2.8% 2009 3.8% 1.1% 2005 2004 1.0% 30.9% 3.5% 8.2% 27.3% 2.6% 6.4% 5.8% 25.8% 2.5% 6.2% 0.9%

40.5% 9.8% 6.8% deposits assets Total deposits assets Total deposits assets Total deposits assets Total Household Household Household Household 40.0% 5.8% 5.5% 7.2% 37.7% 4.0% 5.1% 0.6%

47.5% 5.0% 5.6% 46.0% 2.5% 3.3% 5.0% 46.7% 1.8% 3.0% loan Mortgage loans loan Mortgage loans loan Mortgage loans loan0.8% Mortgage loans Consumption Consumption Consumption Consumption 10.0% 4.5% 5.2% 5.9% 4.1% 4.0% 2.8% 5.5% 4.1% 3.9% deposits deposits deposits deposits Corporate Corporate Corporate Corporate 0.7%

8.1% 6.2% 3.1% 2009 2009 2009 6.1% 6.0% 2.1% 2005 2005 4.6% 2005 2004 5.1% 2004 8.1% 2004 2.1% Corporate loans Corporate Corporate loans Corporate loans Corporate loans Corporate 1.5% The charts show targets in the different market segments to be achieved with organic grow, without further acquisitions.

OTP Bank - 10 Years on the Stock Exchange 21 The banking group targets to improve cost efficiency further, the cost/income ratio will decrease under 50% by 2009*

NetNettó interest kamatmarzs margin Net feeJutalékmarzs* margin** * 7% 7% 6% 6% 5% 5% 4% 4% 3% 6.53% 6.27% 3% 5.31% 5.01% 2% 4.13% 4.64% 2% 3.00% 3.04% 3.44% 1% 1% 1.39% 1.34% 1.15% 0% 2004 Fact 2005 forecast 2009 forecast 0% 2004 Fact 2005 forecast 2009 forecast 2004. tényBankiBank 2005. tervKonszolidáltConsolidated 2009. terv 2004. tényBankiBank 2005. tervKonszolidáltConsolidated 2009.terv

Cost/incomeKiadás/bevétel ratioarány ƒ In the coming years net interest margin will 60% decrease further 50% ƒ We expect the net fee margin** to grow 40% significantly on the bank-level, while on the consolidated level it will decrease moderately 30% 55.7% 47.9% 54.1% 49.9% 20% 44.5% 40.8% ƒ The Bank plans to decrease the cost/income 10% ratio to 40% at bank level and under 50% at group level until 2009 0% 2004 Fact 2005 forecast 2009 forecast 2004. tényBankiBank 2005. tervKonszolidáltConsolidated 2009. terv * The figures show the planned organic development of the present banking group, according to the Hungarian Accounting Standards ** Net fee revenue compared to the average volume of deposits and loans OTP Bank - 10 Years on the Stock Exchange 22 OTP Bank’s performance remains dominant in the Group but the contribution of foreign subsidiaries to earnings growth will increase

Subsidiaries: earnings before Bn HUF OTP Bank: earnings before taxation* Bn HUF Bn HUFConsolidated earnin gs before 300 300 taxation** 300 taxation* 250 CAGR 2004-2009 12.2% 250 250 CAGR 2004-2009 200 14.2% 200 CAGR 2004-2009 200 18.6% 22 5% 150 15.8% 150 150 294.4 1.0% 65.3 100 219.3 100 100 175.3 146.5 11.3 14.9 151.4 50 123.5 50 50 28.1 24.9 43.2 0 0 0 2004 fact 2005 forecast 2009 forecast 2004 fact 2005 forecast 2009 forecast Subsidiaries in Hungary Foreign subsidiaries 2004 fact 2005 forecast 2009 forecast

Contribution of banking group members to pre-tax earnings growth*

2004 2009 Bn HUF Bn HUF 60 60 50 9% 50 72% 9.9 -1,6 15% 40 40 18.1 0.5 4.3 20% 45% 30 30 40% 48.6 6,5 44.4 20 36.0 20 10 10 20.2 0 0 OTP Bank Subsidiaries in Foreign Consolidation Consolidated OTP Bank Subsidiaries in Foreign Consolidation Consolidated without Hungary subsidiaries effects income without Hungary subsidiaries effects income dividents dividents * The figures showsreceived the planned organic development of the present banking group, according to the Hungarian accountingreceived standards, with dividends received, before banking and corporate taxation ** Without acquisitions planned for 2005 OTP Bank - 10 Years on the Stock Exchange 23 With organic development current* OTP Group aims to reach 15% average profit growth in the coming years Main figures of OTP Group’s strategic plan Consolidated**, according to Hungarian Accounting Standards, EUR billion***, % CAGR/ 2005 2009 Change Market size (total assets) Hungary 73.5 116.1 12.1% Total (current markets*) 175.0 281.0 12.6%

OTP Group Market share Hungary**** 24.9% 26.6% +1.7%p Total (current markets*) 12.0% 14.6% +2.6%p Total assets Hungary**** 18.3 30.8 13.9% Total (current markets*) 21.0 39.8 17.4% Main indicators Interest margin 6.3% 4.6% -1.7%p Fee margin 1.3% 1.2% -0.1%p Cost/income 54.1% 49.9% -4.2%p Net profit (EUR million) 554 973 15.1% Net profit (EUR million, IFRS) 620 1,031 13.5%

ROAE 31.8% 35.7% +3.9%p * Hungary, Bulgaria, Slovakia, Romania, Croatia ** Plans for current group’s organic growth while maintaining efficient capital structure *** BS items calculated on year end, P&L items on annual average HUF/EUR exchange rates. Annual average HUF/EUR exchange rates: 2005:249,4; 2009:252,8 **** Non consolidated, aggregated, compared to the financial institution system Source: OTP OTP Bank - 10 Years on the Stock Exchange 24 OTP Bank can achieve the targeted market position by improving distribution and retaining „valuable” clients

Value proposition development targets ƒ Intensive use of CRM system, segmentation and options provided by the databank in distribution and creation of value offers ƒ Development of segmentation methodology and extension of data researched ƒ Improvement of cross-sales and intensity of product usage through segment specific sales campaigns, development of sales campaign effectiveness ƒ Renewal of value proposition to micro- and small enterprises, improvement of service quality and effectiveness

Programmes for distribution channel improvement ƒ Carry on the branch network transformation– formation of a standard distribution approach project: –dissemination of sales supporting tools –phase in best branch practices –implementation of a new incentive system ƒ Development of electronic channels through the expansion of services available and implementation of comfort functions; strengthening of OTPdirekt brand ƒ More efficient use of alternative distribution channels (agents of group members, other external intermediaries)

OTP Bank - 10 Years on the Stock Exchange 25 Key challenges for internal development are preparation for Basel II standards and improvement of the incentive system

Risk management ƒ Credit risk management: – Basel II standards must be fully met in 2005 regarding all background process and inner regulations – Final definition of the role of the division responsible for operational risks – Actualisation of risk management methods and fit it to the group in the bank and subsidiaries ƒ Management of market, country and partner risks: – Transformation of methodologies for rating countries and professional money- and capital market participants in line with the requirements of the new capital agreement – Further improvement of country- and partner risk assessment methodologies on group level

Human resource management ƒ Implementation of a new compensation system – Constant, objective measurement of personal performance – Performance-based incentivisation – Unlimited extra-income opportunity in the branch network ƒ Training for branch managers and administrators, improvement of sales skills in order to boost sales performance ƒ Education providing basic and special professional knowledge

OTP Bank - 10 Years on the Stock Exchange 26 Forward looking statements

This presentation contains several forward looking statements concerning financial conditions, operational income and business activity of OTP Bankand the OTP Group. These statements and forecasts carry risks as they hinge upon future events and circumstances. Several factors can result in actual outcomes and processes deviate from the forward looking statements and forecasts included or implied by this document. Statements are based on estimated exchange rates and financial conditions considering current regulations. None of the statements of this document can be regarded as forecast on future profits.

OTP Bank - 10 Years on the Stock Exchange 27