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OTP CEO: We will acquire a small bank soon

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Hungary’s OTP Bank expects to acquire a small bank in the next two months in a country where the bank is already present, CEO Sándor Csányi said in an interview with Hungarian online daily vs.hu published today.

"We can best realize synergies where we already have a unit. In these countries, we are looking at everything that is for sale, and if we are smaller, we try to achieve a more rational business scale," he added.

"In countries where we are not present, we only make acquisitions if we can buy a big bank, one with around 10% market share," Csány said. He added, however, that he can envisage OTP buying a “big bank” in neighboring countries at a later date.

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