OTP banka purchased Splitska banka

OTP banka Hrvatska announced the completion of the transaction for the purchase of 100 percent of Splitska banka.  The merger will create fourth largest bank in Croatia, comprising to 11 percent of the market share.

At today's press conference held in Split, high representatives of OTP Bank Nyrt., OTP banka Hrvatska and Splitska banka stated that the transaction for the purchase of Splitska banka was performed earlier this week.

Previously, OTP banka acquired all necessary approvals for the transaction by the authorized regulatory bodies: Croatian National Bank, Croatian Financial Services Supervisory Agency and Croatian Competition Agency. By this transaction, OTP banka Hrvatska realizes indirect control over SG Leasing, SB Nekretnine, S.B. Zgrada while Société Générale Osiguranje is intended to be taken over completely in the third quarter of 2017. It is expected that the merger process will last until summer 2018. Until then, the two banks will operate as separate legal entities. Some novelties for the clients of both banks will be announced soon.

“We warmly welcome Splitska banka as a very valuable member of OTP Group. Once merged together OTP banka and Splitska will be the second largest within OTP Group in terms of loans. By this transaction and merger we show our long-term dedication and serious commitment to the Croatian market, where we plan to grow organically, and if possible, even through future acquisitions“ stated dr. Sándor Csányi, Chairman and CEO of OTP Bank Nyrt. 

„The merger process of the two banks will take somewhat over a year. After the merger, Dalmatia will proudly host a nationally significant banking power with exquisite network and attractive products portfolio for the benefit of our clients,“ stated Balázs Békeffy, CEO of OTP banka.

Slaven Celić, former Member of the Management Board of OTP banka, took the position of the of Splitska banka CEO. His rich experience in bank merger processes will be an asset to the successful integration process.

Zvonimir Akrap, presently a Member of the Management Board of Splitska banka in charge of corporate banking and markets will retain his position. Two new members of the Management Board will be Balázs Balogh, in charge of risk management and Balázs Olchváry in charge of operations and ICT. Tomislav Krpan, Splitska banka Procurist, will also retain his position. 

„I am honored to having been given the responsibility to lead Splitska banka during the merger process. In the oncoming months our key focus will be equally on keeping excellence in client work and on successful preparation of the integration process. People are crucial for the realization of our success and Splitska banka has high quality professionals,“stated Slaven Celić, newly appointed CEO of Splitska banka. 

Once merged, the bank will have over 130 branch offices, 400 ATMs, more than 500,000 active clients and will keep its leading position and market share in certain market segments and regions.