SLOVAKIA: KBC finalises acquisition of OTP business

2 December 2020 — Andrei Victor
Belgium's KBC Group and OTP Bank, the Hungarian parent company of OTP Banka Slovensko (Slovakia), closed the agreement announced in February 2020 for KBC Bank NV to acquire ownership of 99.44% of the shares in OTP Banka Slovensko.

The remaining shares are held by a number of private individuals.

The transaction received regulatory approval from the National Bank of Slovakia (NBS), the National Bank of Belgium (NBB), the European Central Bank (ECB) and the Antimonopoly Office of the Slovak Republic.

Thus, KBC Bank substantially strengthened CSOB bank-insurance franchise in Slovakia and enhanced its cross-selling potential with CSOB Poistovna, CSOB Leasing and CSOB Asset Management.

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