OTP sets sights on Ukraine's TAS Bank

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OTP Bank Nyrt yesterday announced plans to purchase a controlling stake in another large Ukrainian bank, Bloomberg reported.

According to two different reports, OTP's target is the TAS banking group, owned by former politician Sergey Tyhypko. Interfax reported that OTP had already begun an audit of TAS Commercebank.
In June, OTP agreed to pay about $800 million for Raiffeisen Bank Ukraine, which Austria's Raiffeisen group no longer needed after its purchase last year of Bank Aval. The TAS group also includes an insurance company.

 

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