Splitska Banka in Split

Hungary's OTP buys bank in Croatia

December 21, 2016

OTP Bank Plc. has announced that its Croatian subsidiary OTP banka Hrvatska, signed an acquisition agreement on purchasing 100% shareholding of Splitska Banka, member of Société Générale Group, reports.

Societe Generale Splitska is the fifth largest player on the Croatian banking market and as a universal bank it has been active in the retail and corporate segment as well. As a result of the acquisition the market share of OTP Group will rise to approximately 10%.

The financial closure of the transaction is expected in the summer 2017 while the integration process may be completed by summer 2018.


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