New Banking Force on the Market resulting from Synergies of Large Banking Brands
The new OTP banka Srbija a.d. Novi Sad, created from the integration process between OTP banka Srbija a.d. Beograd (former Societe Generale Srbija) and Vojvođanska banka a.d. Novi Sad, has started operations in early May 2021. The most complex banking integration ever implemented in this region represents a strategic move of OTP Group, aiming to form the largest banking institution in Serbia.
Upon generating the annual growth in loans of 15% in 2020 the total net loans in Q1 2021 amounted to EUR 3.8 billion, thus positioning OTP banka as a market leader with 16.9% of market share in the loan segment, and the second largest bank in terms of asset size with a total of EUR 5.3 billion. OTP banka has the largest number of ATMs in Serbia at 322 locations and more than 200 branches across the whole country.
“The integration journey that lasted for 19 months would not have been successful if it were not for more than 3,000 of our colleagues and their commitment to this process, professionalism and expertise. It seemed that the pandemic crisis stopped the world at times in 2020, but neither this slowed us down in our efforts to integrate two big systems. Because when you know where you are going, you can clearly see the road ahead. The ideal joining of values, the combination of technical sophistication, top customer experience and tradition represents a synergy of the best solutions of two major banking brands”, stated Predrag Mihajlovic, President of the Executive Board of OTP banka Srbija.
“OTP banka is a market leader with 16.9% of market share in the loan segment, and the second largest bank in terms of asset size with a total of EUR 5.3 billion”
“This integration is a milestone in the history of OTP Group. We have expanded throughout the region both organically and via acquisitions, and as a result of our growth strategy OTP is not only present in eleven countries, but we are a market leader in Hungary, Serbia, Bulgaria and Montenegro, and a play key role in several other markets. We are proud of this achievement and OTP Group is keen to contribute
to the long term success of the Serbian economy and the well being of Serbian society. Our regional expansion strategy is recently recognized by the Euromoney Awards for Excellence 2021, as OTP Group was named the best bank in Central and Eastern Europe. I am proud that Euromoney, which has run the awards since 1995, pointed out that our Group was the only bank in the region to post a double digit return on equity and had an impressive 9% growth in the loan portfolio, all while completing two complex merger processes including the one in Serbia” – said Mr. László Wolf, Chairman of the Board of Directors of OTP banka Srbija and Deputy CEO of OTP Bank.
The new OTP banka opened its doors to its clients with a significantly enriched offer – new welcome packages, representing a diverse offer with a wide choice of benefits and focus on enhancing digital banking. Clients have the following at their disposal: online cash loan and automatic overdraft renewal, online purchase of travel-health insurance, online standing order and direct debit activation, early credit card debt repayment, but numerous benefits for our card holders as well, using the phone as a card (with mCard and ApplePay), P2P payment and transferring funds to private individuals by e-mail and phone, and a lot more.
OTP Leasing Srbija, a leader in the leasing market of Serbia by production, also operates within OTP Group, as well as OTP Insurance, which provides life insurance services.
OTP banka remains a loyal longterm partner to the Olympic Committee of Serbia and is fully supporting Olympic athletes representing Serbia at the current Olympic Games in Tokyo. In order to provide better conditions for athletes, OTP banka has enabled a part of the funds to be invested in the sports investment fund from each transaction with the Visa Gold Olympic credit card at the expense of the bank. Through the 5th Generator project this year the Bank will support social entrepreneurship and those who care about ecology and environmental protection.