OTP Bank has taken 100 percent ownership in Vojvodjanska Bank, NBG Leasing and other branches of the National Bank of Greece in Serbia for €125m. The move will increase OTP’s market share and will rise to 5.7 percent, the 7th largest in Serbia. OTP Bank Serbia’s business has been growing and is likely to continue to do so following this takeover, which is expected to close by the end of 2017. It’s the third acquisition by OTP in the past few months, following deals in Croatia and Romania.
Chairman of the Executive Board Predrag Mihajlovic pledged to meet the expections of more than one million clients that currently use Vojvodjanska Bank, which currently employs 1,405 people in 105 branches around Serbia.
