Hungary’s largest commercial bank, OTP plans to acquire a Serbian bank as part of its plant to expand the bank throughout Europe. It’s been present in Serbia for seven years with the acquisition of Niksa banka in 2005 and the subsequent purchase of Zepter and Kulsa banks in 2006. According to László Wolf, OTP’s Deputy CEO, its Serbian subsidiaries face problems with the inflation of the Serbian currency. Wolf declined to name the bank OTP hoped to purchase, but said it was neither a state bank, nor one with domestic capital and that negotiations were ongoing.
