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, portfolio.hu 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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