By: J.S., STA
The Hungarian OTP Bank Group announced it had signed a contract to acquire the outright stake in NKBM, Slovenia’s second largest bank.
The deal is expected to be finalised in the second quarter of next year as the acquirer is waiting approval from relevant regulatory authorities. Owned by the US fund Apollo (80%) and the European Bank for Reconstruction and Development (20%), NKBM controls 20.5% of the Slovenian market. OTP already owns SKB Banka, and combined with NKBM, the new bank would control some 29% of the market, making OTP the biggest player on the Slovenian banking market.