OTP Group: new acquisition in Croatia

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

Societe Generale Splitska is the 5^th biggest 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%.

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