Equity
Hungary OTP buys 5th largest bank in Croatia
OTP Bank’s Croatian subsidiary, OTP banka Hrvatska, acquired 100% of Splitska banka d.d. from Société Générale Group.
The acquisition agreement was signed on 20 December 2016 and the financial closure of the transaction was reached on 2 May 2017.
Splitska banka is the 5th 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% in Croatia.
OTP Bank has been present in Croatia since 2005 and its operation has been continuously profitable even during the economic crisis started in 2008. The integration process is expected to be completed by summer 2018.
The acquisition agreement was signed on 20 December 2016 and the financial closure of the transaction was reached on 2 May 2017.
Splitska banka is the 5th 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% in Croatia.
OTP Bank has been present in Croatia since 2005 and its operation has been continuously profitable even during the economic crisis started in 2008. The integration process is expected to be completed by summer 2018.
