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OTP Bank bid for Croatian credit card company unsuccessful

OTP Bank Nyrt announced on Monday that its bid for a 100% stake in Diners Club Adriatic (DCA), a Croatian credit card company, had been unsuccessful.

OTP Bank said on September 15, 2006 that it had submitted a binding bid for the stake. DCA controls almost 30% of Croatia's credit card market, with almost 440,000 cards issued.
Austria's Erste Bank won the tender for DCA. The purchase price will depend on the company's 2006 profits, but is not to exceed €153 million.