ČSOB to buy OTP Bank

Hungarian OTP is selling its Slovak bank to KBC of Belgium, the owner of ČSOB, according to sources of the N daily. OTP also received bids from Penta and Poštová banka (J&T). The Slovak OTP has huge losses, 62 branches, and a strong position in the South. ČSOB will keep its No.4 position on the Slovak market. Back in 2008 it acquired Istrobanka.

(dennikN.sk)