Wed 15 May 2024
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Wed 15 May 2024
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Wed 15 May 2024
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Wed 15 May 2024
Budapest (HU)
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August 2nd, 2018
OTP Bank on Thursday said it agreed to buy a 99.74 percent stake in the Bulgarian unit and an 88.89 percent shareholding in the Albanian unit of France's Societe Generale Group. The acquisition "will further strengthen [OTP Group's] market position in Bulgaria", the lender said of the purchase of Societe Generale Expressbank. OTP will make the acquisition in Bulgaria through its local unit DSK Bank. Societe Generale Expressbank has a market share of about 6.7 percent, making it Bulgaria's seventh-biggest bank. In a separate disclosure, OTP said it agreed to acquire an 88.89 percent stake in Banka Societe Generale Albania.
MTI
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