Société Générale announces the sale of its majority stake in Société Générale Albania to OTP
Société Générale has entered into an agreement to sell its majority stake in Société Générale Albania (SGAL) to OTP Bank. The closing of the transaction is expected to take place in the coming months, subject to receipt of clearances from the relevant banking and antitrust authorities, and relevant third party consents.
With a market share of nearly 6%, SGAL is the 5th largest bank on the Albanian banking market, active in both retail and corporate segment.
Over the coming months, Société Générale Group and OTP Bank will work together to obtain all the authorizations required. During this period, Société Générale Albania will continue to serve all retail and corporate clients with the same high standards while preparing for a smooth transition for clients and assuring the stability of their relationship with the bank.