Economy
OTP Gets Green Light to Buy Croatian Splitska Bank
Société Générale Splitska Banka, which is present both in retail and in corporate segments, is the fifth largest bank of Croatia. As a result of the acquisition, OTP Group’s market share in Croatia will rise to 10% overall.
According to the press release of the competition office, OTP’s entry to the Croatian market is expected to increase pressure on the competitors, which might result in a drop of interest rates that could benefit those taking a loan in the future.
According to OTP’s announcement last year, the transaction will result in a 100% ownership of Splitska Banka. The financial aspect of the transation will end in 2017, while the integration is expected to close by mid-2018.
OTP Bank has been present in Croatia since 2005 and has been profitble ever since, even during the financial crisis of 2008.
According to the press release of the competition office, OTP’s entry to the Croatian market is expected to increase pressure on the competitors, which might result in a drop of interest rates that could benefit those taking a loan in the future.
According to OTP’s announcement last year, the transaction will result in a 100% ownership of Splitska Banka. The financial aspect of the transation will end in 2017, while the integration is expected to close by mid-2018.
OTP Bank has been present in Croatia since 2005 and has been profitble ever since, even during the financial crisis of 2008.
