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OTP Bank eyes more acquisitions in Slovenia, CEO says

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OTP Bank eyes more acquisitions in Slovenia, CEO says

OTP Bank Nyrt. CEO and Chairman Sándor Csányi said the Hungarian lender is considering purchasing more banks in Slovenia following its recent acquisition of Société Générale SA's Slovenian subsidiaries, Reuters reported.

Csányi, who was speaking at a news conference in Ljubljana, said OTP Bank is looking to increase its market share in Slovenia to about 25% to 30% from 9% in terms of balance sheet assets over the medium term, thus allowing it to run its business more efficiently.

The Hungarian bank also plans to expand into new countries, potentially beyond Europe, and is evaluating some Asian countries, the executive added.

Meanwhile, Csányi noted that the lender is seeking to withdraw from the Slovakian market before spring, as it has not been able to increase its market share in the country to above 3% over the past years.