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OTP in talks to sell unit in Slovakia

Analysis

Tupungato/Shutterstock.com

OTP Bank is holding talks with several competing banks on selling its unit in Slovakia, the press office of OTP Banka Slovensko told state news wire MTI on Thursday.

Image: Tupungato/Shutterstock.com

The bank said it would offer further information after it has evaluated binding offers.

Press sources in Slovakia reported on Wednesday that OTP would exit the country by the end of spring 2020 as it has not managed to raise its market share above 3%.

OTP became the majority owner of OTP Banka Slovensko in 2002. The unit currently has 62 branches in the country.

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