OTP bank is in continuing their acquisition process in the region, with buying of 90,56% of SGM bank shares, that is part of Societe Generale Group. OTP bank is already present in the region through CKB "Crnogorska komercijalna banka" and they will be formal entity to buy SGM shares.
Transaction value is 40,45 million EUR, or 461,81 EUR/share, and realisation is pending approval from regulatory agency.
OTP bank is Hungarian bank with strong presence in the region, and in constant process of acquisition of new entities, to broaden their presence and market share.
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