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OTP Bank to increase market share in Albania, open branch in Kosovo

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OTP Bank to increase market share in Albania, open branch in Kosovo

Banka OTP Albania sha CEO Bledar Shella said the lender's Hungarian parent company OTP Bank Nyrt. is looking to increase its market share in Albania to gradually become the largest financial group in the country, SeeNews reported.

Shella, who wrote to SeeNews in an email in the week beginning Sept. 16, said OTP Bank is looking to achieve the market share increase primarily through organic growth, but will also carefully consider suitable acquisition opportunities if they arise. Shella noted that Banka OTP Albania's share of the country's credit market is about 10% — more than 12% of which is represented by the mortgage market.

Shella added that the Hungarian lender is looking to enter the Kosovo market by opening a Banka OTP Albania branch in the state. The move would see OTP Bank have a presence in almost every central and eastern European country.