The number of OTP branches in Croatia reportedly rose to 112 from 97 as a result of the merger, while the number of OTP employees in Croatia rose 11% to 1,125. The merger made layoffs necessary in administrative areas and at branches to be closed, OTP said.
According to Croatian media reports, the Croatian unit could have generated HRK 33 mln profits last year, which could be increased to as high as HRK 155 mln through extraordinary items.
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