OTP Bank received approval from the Slovenian Competition Protection Agency for the acquisition of Nova KBM

published atFebruary 1, 2023Tags:acquisitions

OTP Bank received approval from the Slovenian Competition Protection Agency for the acquisition of Nova KBM

OTP Bank, the leading banking group in Central and Eastern Europe has fulfilled today the last condition for closing the transaction of acquiring NKBM by receiving the approval of the Slovenian Competition Protection Agency. The sale and purchase agreement for the acquisition of Slovenia’s second largest bank was signed on 31 May 2021, and following the closing, that is expected in the upcoming days, Nova KBM will join OTP Group.

Budapest, 1 February 2023 – OTP Bank entered the Slovenian banking market in 2019 with the acquisition of SKB and now is making another very significant investment based on the positive experience gained since then and the trust in the country's further development. Following the closing of the transaction, the merger of SKB and NKBM will start immediately, creating the largest bank in terms of loans and deposit in Slovenia and making OTP Bank the market leader in the fifth country in the region.

In addition to stable and profitable operations, the OTP Group aims to contribute to the development of the Slovenian economy by all possible means. It plans to offer the private individuals state-of-the-art, fast and convenient financial services, both in the branch network and through advanced digital channels. In addition, OTP Bank will pay particular attention to the development of fast credit products of realistic conditions for SMEs, which will contribute to their successful operation and development.

OTP Group intends to contribute to the development of the Slovenian economy not only in banking but also in other areas. The plans for the real estate development project known as Emonika have already been submitted to the Ministry of Nature Protection for approval. On a long-neglected site in the centre of Ljubljana, it is planned to build a hotel, apartments, offices and a shopping centre of approximately 85,000 square metres of gross leasable area. With the associated infrastructure improvements, the development will become one of the most beautiful spots in the capital and will revitalise an entire neighbourhood of the city.

The banking group, which is currently present in 11 countries and following its most recent acquisition in Uzbekistan will soon operate in 12 countries, plans to support Slovenian businesses, including SMEs and large size local companies, to enter foreign markets and to expand abroad through mutually beneficial partnerships. OTP Bank aims to establish fair and efficient cooperation with all its retail and corporate partners.

The OTP Group expresses its thanks to the Slovenian Competition Protection Agency for the positive decision to approve the transaction of the acquisition of NKBM.

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