OTP Bank could enter new market, says CEO

OTP Bank could soon announce a number of acquisitions and may enter a new market next year, the lender’s chairman-CEO said in an interview published in the fresh issue of news weekly Figyelő.

“We could soon announce a big foreign acquisition, and another could take place in January,” Sándor Csányi told the paper.

OTP Bank announced on Wednesday, after Figyelő had gone to press, that it had agreed to acquire Croatia’s Splitska Banka from Societe Generale. The acquisition will boost OTP’s market share in Croatia, where it has been present since 2005, to around 10 percent.

In addition to Hungary and Croatia, OTP has businesses in Russia, Ukraine, Bulgaria, Romania, Serbia, Slovakia and Montenegro.

Photo: Daily News Hungary

Source: MTI