May 4 (SeeNews) - Hungary's OTP considers the performance of its first Slovenian acquisition, SKB Banka, as above-average and plans organic growth in Slovenia, Slovenian media reported.
Sandor Csanyi, the CEO of the banking group, told Slovenian reporters in Budapest earlier this week that the Slovenian market is important for OTP because it promises good results, public broadcaster RTV SLO reported.
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Csanyi said that OTP targets a share of at least 10% of the Slovenian market. Important decisions regarding SKB's operations will be made after the completion of a detailed analysis which is being prepared.
He expressed hope that the acquisition will be completed as soon as possible.
OTP signed in May an agreement with French banking group Societe Generale for the purchase of SKB Banka and its subsidiaries SKB Leasing and SKB Leasing Select. The completion of the transaction is still subject to regulatory approvals.
Csanyi declined to provide the price at which OTP acquired SKB, RTV SLO said.
He also declined to say how much OTP had offered in the tender for the sale of another Slovenian lender, Abanka, which ended in June with Slovenia selecting local lender Nova Kreditna Banka Maribor (NKBM) as best bidder with a 511 million euro ($577 million) offer.
Csanyi only said that the Abanka tender was completely transparent and OTP failed to win it because its bid was too low, RTV SLO reported.
Earlier this year, OTP Bank wrapped up the acquisition of Societe Generale's units in Albania and Bulgaria. In February, OTP also signed agreements to acquire Societe Generale's units in Moldova, Montenegro and North Macedonia.
($=0.886230 euro)
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