Hungary’s OTP cleared to take over NKBM bank

The Hungarian banking group OTP has received clearance from the Slovenian market regulator to take over NKBM, Slovenia's second largest bank, and create what it says will be the largest bank in the country.

The clearance from the Slovenian Competition Protection Agency (AVK) was the final nod of approval required after the transaction had been okayed by the European Central Bank in September 2022.

OTP signed a deal to acquire the Maribor-based bank from the US fund Apollo (80%) and the EBRD (20%) on 31 May 2021. Media have valued the deal at roughly one billion euros.

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