March 2 (SeeNews) - Slovenian lenders Nova Kreditna Banka Maribor (NKBM) and SKB banka, units of Hungary's OTP Bank, have merged their ATM networks, the two Slovenian banks said.
"From now on, customers of NKBM and SKB banka can use their Visa debit and Visa Business debit cards to withdraw cash and check account balances at around 450 ATMs of both banks," the two lenders said in separate statements on Wednesday.
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The integration of the two banks, following the acquisition of NKBM by OTP in February, is now starting and is expected to take one and a half years, the lenders said.
"The goal of the integration is to create a leading financial institution that will provide its clients and employees with high-quality banking services and products. During the integration, both banks will continue to operate as before and provide their clients with the same high level of service and an unchanged product portfolio," the banks noted.
After closing the acquisition of NKBM on February 6, OTP has around 30% share in the Slovenian banking market on a pro-forma basis, the Hungarian group said last month.
NKBM, with a market share of 20.7% in terms of total assets as of September and more than 1,500 employees as of the end of 2022, was 80% owned by funds managed by affiliates of Apollo Global Management. The European Bank for Reconstruction and Development Bank (EBRD) owned the remaining 20% interest.
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