OTP aims to acquire Serbian bank
Thursday, November 24, 2005, 09:06
OTP Bank Rt expects to acquire a small Serbian bank to give it a foothold in the market, after which it aims to acquire a mid-sized bank, daily Népszava reported. In Serbia, OTP Bank has submitted a binding bid for Niska Banka, a small Serbian bank, in October, it recently passed the pre-qualification round in the bidding for Vojvodjanska banka, and it is also interested in a third Serbian bank, Panonska banka. On the foreign markets where OTP Bank is already present, it aims to expand, because "it does not want to play a minor part anywhere", OTP Bank deputy-CEO László Wolf said, adding that the bank needs to achieve a certain size in order to increase profitability.