Hungarian OTP Bank closes purchase of Russian DNB Bank
OTP Bank said Wednesday it closed the purchase of 100% of Russia’s Donskoy Narodny Bank (DNB) in a $40.95 million transaction on Tuesday.
OTP Bank said it would start harmonizing the operations of DNB and OAO OTP Bank (formerly Investsberbank), its other unit in Russia. OTP Bank announced in November it agreed to buy DNB for $41 million. It said at the time the bank has almost 170,000 -- mainly retail -- clients, and it ended 2006 with total assets of $89.3 million. (MTI-Econews)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.