Societe Generale Bank in Serbia has announced that it has become a part of the Hungarian OTP Group as of today. In the statement announced on all its communication channels, the bank said that it has a new name, new colour and a well-known address. „We have become a part of the OTP Group, one of the dominant financial institutions in Central and Eastern Europe, in which we continue to grow together and nurture a recognizable and quality relationship with you.“ As they add, as an OTP bank they will continue to invest in the growth and development of simple and innovative banking products and services. “With the power of OTP Group, we offer you financial security and support your plans with the new name and colours, while well-known products, branches and faces remain the same. As media report, the acquisition of Societe Generale Bank in Serbia has made OTP Bank the second largest bank in Serbia. The realization of an agreement on this purchase on the Serbian market had been on hold for exactly nine months. Two bank groups announced their agreement on planned sale in the second half of December 2018. The closure of this transaction was conditioned by the approvals of competent institutions, one of which was the National Bank of Serbia, which granted approval on September 13th this year, as the merger of Vojvodjanska banka, purchased by OTP Bank in December 2017, was ongoing in the meantime.
Izvor: BIZLife/Večernje novosti