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Hungary's OTP Bank set to continue expansion, offers €300M for Slovenia's Abanka

Hungary-based OTP Bank Nyrt. offered €300 million for a 100% stake in Slovenian state-owned Abanka dd, Reuters reported March 15, citing Dnevnik newspaper.

Slovenia sought expressions of interest for Abanka in October 2018, as it aims to sell the bank by mid-2019 to meet the conditions of European approval for the state aid provided in 2013, the newswire noted. The Slovenian government is also looking to offload a majority stake in Nova Ljubljanska banka dd.

OTP, which does not own a bank in Slovenia, is also interested in acquiring Société Générale SA's Slovenian unit, SKB Banka dd Ljubljana, the paper said. The Hungarian lender has already purchased or is in the process of acquiring the French bank's units in Serbia, Moldova, Albania, Croatia and Bulgaria.