OTP Group acquisition of Splitska Bank

23/1/2017
Private acquisition

Announced

23/1/2017


Overview:

  • OTP Group has acquired Splitska Bank from Société Générale for an undisclosed fee.
  • The bank is the fifth largest in Croatia and the deal will see OTP increase its market share to 10%.
  • OTP, Hungary's largest bank, entered the Croatian market in 2005.
  • The deal has an enterprise value of €480 million.
  • Société Générale is currently reviewing its strategy in the CEE with the intention to focus more on those markets where it can compete with the biggest lenders.
  • The deal comes at a time when a number of potential deals could change the Croatian banking landscape including the sale by UniCredit of Zagrebačka Banka.

Sam Duke - Editor

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