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OTP submits indicative bid for Vojvodjanska banka

OTP Bank Rt has submitted a preliminary non-binding bid on Monday for a 99.43% stake in Serbia\'s Vojvodjanska banka ad Novi Sad, the bank announced on the website of the Budapest Stock Exchange.  

Vojvodjanska banka had total assets of €460 million at the end of September 2005, giving it a 5.8% share of Serbia\'s banking market. It had net assets of €65.7 million. The bank has 175 branches and 685,000 clients.

OTP submitted a letter of intent to bid for the stake on offer in Vojvodjanska banka on November 7, 2005, and announced on December 19 that the Deposit Insurance Agency, acting on behalf of the Serbian government, placed it on the list of the banks to take part in the next round of privatization.