OTP Bank has signed an agreement with Societe Generale to buy its Croatian unit, Splitska Banka. The deal is expected to be completed by the end of this year, and will see SBI’s share price rise from around €5 billion in 2014 to about €10 billion. Splitska is Croatia's fifth largest bank and OTP has run a profitable presence in the country since 2005. The financial terms of the deal, which will finalise in the middle of next year, were not disclosed.
OTP Bank has signed an agreement with Societe Generale to buy its Croatian unit, Splitska Banka. The purchase will see OTP acquire around a 10% share of the Croatian banking market. Splitska is Croatia's fifth largest bank and OTP has run a profitable presence in the country since 2005. The financial terms of the deal, which will finalise in the middle of next year, were not disclosed.