Hungary’s OTP Bank bought Vojvođanska Banka, as well as NGB Leasing and the National Bank of Greece’s corporate loan portfolio in Serbia. This is one of the biggest recent banking transactions in the region and it was closed beginning of last month Belgrade.
Karanović & Nikolić, in cooperation with the global law firm Weil, Gotshal & Manges LLP, advised the buyer – OTP Bank, one of the leading banks in Central and Eastern Europe, throughout all of the stages of the acquisition process.
This is OTP Bank’s third successful acquisition in this year, after acquisitions in neighbouring Croatia and Romania. After the realization of the financial part of the transaction, the company’s presence in Serbia is further solidified, in line with their strategic goal of increasing their market share in the countries in which OTP operates. Hungary’s OTP Bank now has a 5.7% market share in Serbia and is the seventh biggest bank in the country.