OTP: potential purchase in Ukraine or Serbia
Monday, August 1, 2005, 11:44
Hungary's OTP Bank Rt may announce an acquisition in its two main target countries, Serbia and Ukraine, within the next month, business daily Napi Gazdaság reported, citing OTP Chief Executive Sándor Csányi. OTP is also set to conclude talks to buy a second Croatian bank after acquiring the Balkan country's seventh-biggest lender, Nova Banka in December, Csányi said, the paper reported. The Hungarian bank has been in talks with Kreditna Banka Zagreb as well. OTP submitted a bid to buy Niska banka a.s. from the Serbian government April 1. OTP, the largest lender in the 10 newest European Union countries, spent about USD 850 million on expansion since 1999, it said July 13. Csányi said February 14 he plans to buy as many as four lenders this year, including Romania's Casa de Economii si Consmnatiuni SA, the largest savings bank in the country.