OTP Group has successfully completed the legal merger of its two subsidiaries in Slovenia, Nova KBM d.d. and SKB Banka d.d. After receiving the approvals from regulatory authorities, these two banks will continue to operate under a single name, OTP Banka.
This is the largest merger of two banks in the history of Slovenia, and OTP Banka, headquartered in Ljubljana, will be the second-largest subsidiary of OTP Group, following DSK in Bulgaria. Its activity will be complemented by leasing and factoring services, which will be offered through three subsidiaries: SKB Leasing, SKB Leasing Select, and Aleja Finance.
The legal merger process will be followed by a technical merger, which includes the integration of products, services, and digital channels of both banks. The technical merger and migration of customer accounts from SKB Bank to OTP Banka will take place between August 30th and September 2nd, 2024.
The merger of these two OTP Group subsidiaries further strengthens and reaffirms its position as one of the most powerful banking groups in the region.
About OTP Group
OTP Group is one of the fastest growing and leading banking groups with exceptional profitability and a stable capital and liquidity position in Central and Eastern Europe. With nearly 40,000 employees in now 11 countries of the CEE and Central Asian region, the Group provides universal financial services to 17 million customers. As the most active consolidator in the banking sector of the Central and Eastern European region, the Group has successfully acquired and integrated 25 banks since the early 2000s. Currently, the OTP Group is the leader in Hungary, Bulgaria, Serbia, Montenegro and Slovenia**. OTP Group has been listed on the Budapest Stock Exchange since 1995 and recently S&P Global Market Intelligence published the ranking of the best performing banks in Europe and for the first time among 50 largest European banks OTP Group was a top performer. Such an excellent ranking was achieved due to a healthy combination of financial indicators that reflect growth, stability, and profitability at the same time.