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OTP AGREES TO SELL SLOVAKIAN UNIT TO KBC

 

OTP Bank on Monday said it agreed to sell its Slovakian unit to Belgian peer KBC Bank. The transaction is expected to be closed “in the coming months” subject to regulatory approval. OTP Banka Slovensko confirmed in January that talks on it sale were underway. The lender has a market share of about 3%. OTP booked after-tax profit of 1.98 billion forints at its Slovakian unit for the period Q1-Q3, the lender’s latest earnings report shows.