OTP banka with headquarters in Split

After the integration on October 1, the new bank will operate under the name OTP banka Hrvatska with seat in Split.

Through the transaction in May 2017, OTP banka became the 100% owner of Splitska banka. Since then, a very complex integration process has been implemented, which will be completed by the full merger on October 1st this year. After that, a unique bank will operate under the name OTP banka Hrvatska and will have its headquarters in Split. Through this merger, the fourth largest bank in Croatia is formed, strongly nationally present with a wide network of branch offices and ATMs and a dominant role on the Adriatic coast.

Prior to the final decision on the headquarters and the name of the bank, numerous extensive research has been carried out, which, in addition to the standards membership in the OTP Group brings, led to these decisions. The OTP Bank brand is internationally recognized in Central and Eastern Europe, where OTP Group successfully operates in nine countries and is continuously expanding its business. With the tradition stemming from 70 years of experience in the financial industry, OTP Group is the leader in innovations and digital solutions in its core market. The new, future-oriented corporate brand is in line with the bank's development strategy in Croatia: strong national presence, digitally advanced solutions, attractive offers and conditions for customers in a broad portfolio of products.

Based in Split, the bank will continue to retain the national-local model of organization that has proved to be successful so far. The bank's central functions, along with Split, will continue to be in Zadar and Zagreb, with regional business centers in Dubrovnik, Pula, Osijek and Varaždin. OTP banka Hrvatska will remain a committed partner with all its traditional local communities, fully involved in financing projects of local self-government units and regional governments, as well as their investments in social, educational, cultural and sport development.

"Through this merger we are creating a nationally powerful player because we are inheriting the best features of both banks and their very rich portfolio of products. With our ambition for growth within the digital transition, we believe we will grow more rapidly and with more quality than up until now. Our potential and success is visible from the fact that during this very challenging time of integration we have been able to achieve a net profit of half a billion kuna at the OTP Group level in Croatia", said Balázs Békeffy, CEO of OTP banka.

OTP Group Croatia business results:

With a balance sheet of HRK 44 billion, the OTP Group occupies over 11 percent of the market share measured by the size of assets. The total gross loan portfolio of both banks in the group amounts to HRK 29 billion, and the deposit base amounts to HRK 33 billion, which also represents 11 percent of the market share. The market share of the retail loans segment is above 13 percent, including car loans with the largest market share of over 50 percent, in which OTP Group is currently the strongest player in the market. In the segment of general purpose loans, the OTP Group occupies 15 percent of the market. In 2017, OTP Group realized accounting net profit of HRK 0.5 billion.