Tatra banka, ČSOB, and Penta among suitors to buy OTP Banka Slovensko
The largest bank in Hungary, OTP, is selling its Slovak subsidiary, according to sources of the Trend weekly. Over the past ten years, OTP Banka Slovensko has lost €38.4m and its market share, based on total assets, has shrunk to 1.8%. Besides the small Fio banka, all other banks in Slovakia are in the black. The Slovak OTP was for sale back in 2008, but no bid was deemed high enough. Now, Tatra banka, ČSOB, and Penta are allegedly among the potential suitors. Just three banks (Istrobanka, Dexia and Sberbank) changed hands over the past three years despite market consolidation being touted for over a decade by all major market players.