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OTP misses Panonska train, MKB steps aboard

OTP Bank Rt was not shortlisted by the Serbian Rehabilitation Agency in a tender for Panonska Banka a.d., unlike MKB Rt, which made it to the final six, economic news portal portfolio.hu reported.

In addition to MKB, the agency named Alpha Bank, National Bank of Greece, Bank Austria Creditanstalt, Sanpaolo IMI S.p.A and PKO BP.
Panonska Banka had a 1.9% market share in terms of total assets (€126.8 million) as of 30 June 2005. The bank had shareholders' equity of €32.5 million and a network of 56 branches.
It will be hard for OTP to reach an “acceptable" size in Serbia, given that its two subsidiaries - Niska, which was bought last year and Zepter Banka, which OTP announced acquiring two days ago, are about as big as together Panonska alone, portfolio.hu said.
Panonska is the third expansion fiasco for OTP, following failures with Jubanka and Vojvodjanska Banka.