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OTP banka Srbija

Company nameOTP banka Srbija a.d. Novi Sad
Company typePublic
IndustryFinance and Insurance
HeadquartersNovi Sad, Serbia
ProductsCommercial banking, Investment banking

     Home | Company | OTP banka Srbija

OTP banka (full title: OTP banka Srbija a.d. Novi Sad) is a bank operating in Serbia.

The Bank was officially founded on May 21, 2007, through merger of three Serbian banks: Niska Banka ad Nis, Zepter banka ad Beograd and Kulska banka ad Novi Sad. It is a member of OTP Bank Group, based in Hungary.As the first step of the Serbian expansion, the contract of sale targeting the acquisition of Niska Banka was signed in December, 2005. Then, the transaction of sale was closed in March, 2006. In the same month, as a part of the continuing expansion, sale and purchase agreement for the acquisition of Zepter banka, which was founded in 1992 as a privately-held bank, was signed by the buyer OTP Bank and the seller Philip Zepter. In October 2006, at the closure of the transaction OTP Bank paid the USD 41.305 million purchase price. Before this, in July, 2006 by signing the sale and purchase agreement for the acquisition of a majority stake in the Novi Sad-based Kulska banka a.d. Novi Sad OTP Bank continued the Serbian expansion.

After the closing of Kulska banka’s acquisition in December, 2006, the largest Hungarian financial institute began the merger of its three Serbian banks: a resolution for the merger of the three banks was approved by an extraordinary general meeting held by Niška banka a.d. Niš, Zepter banka a.d. Beograd and Kulska banka a.d. Novi Sad on March 23, 2007. In possession of the requisite Hungarian and Serbian licenses, as of May 21, 2007 the merged credit institution will operate under the name of OTP banka Srbija a.d. Novi Sad in the territory of the Republic of Serbia, with its headquarters located in Novi Sad.

At the end of 2008, OTP banka Srbija’s balance sheet total of HUF 143 billion represented a 2.5% market share. In December, 2008, the loan portfolio was HUF 94.7 billion, representing a 2.8% market share. It represents a growth of 50% in 2008. Within loans, the share of corporate loans was 73.8%. The Bank’s HUF 33.9 billion deposit portfolio meant a market share of 1.4% in deposits at the end of 2008. After-tax profit was HUF 1.670 million in 2008 and cost-to-income ratio was 85.4%.

The number of the Bank’s customers exceeded 362,000 at the end of 2008, of which nearly 337,000 were retail customers.At the end of December the Bank had issued a total of nearly 94,000 bankcards, of which the number of credit cards exceeded 32,000. In 2008 the number of the Bank’s ATMs increased to 204, while the number of POS terminals stood at 3.356 at the end of the year.

As of the end of the year 2008 the Bank had a network of 95 branches. The Bank employed 1,183 people at the end of 2008.

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