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 its operations. 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, as well as increased market share in all other segments, the new integrated bank is the first in Serbia according to market share in the loan segment, and second largest bank in terms of asset size with a total of EUR 5.6 billion.
“The integration journey that lasted for 19 months and would not have been successful if it were not for more than 3000 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, which our clients will have the opportunity to experience. The new stage has just begun”, stated Predrag Mihajlovic, President of the Executive Board of OTP banka Srbija.
“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, Bulgaria and Montenegro, and play a key role in several other markets – as from now in Serbia. We are proud of this achievement and OTP Group is keen on contributing to the long term success of the Serbian economy and the well being of the Serbian society” said László Wolf, Chairman of the Board of Directors of OTP banka Srbija and Deputy CEO of OTP Bank.
Branches of the integrated bank are continuing to operate at the same locations as before, with a total of 213 branches across the country. At the same time, OTP banka has the largest number of ATMs in Serbia at 322 locations, and in addition, clients have the opportunity to withdraw cash under the same conditions at an additional 165 ATMs of the MoneyGet network.
The merger of the two banks provides clients with new benefits with a focus on enhancing digital banking and 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 cardholders 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.
The Bank will continue to be a loyal long-term partner to the Olympic Committee of Serbia and provide support to social entrepreneurship, while through the 5th Generator project this year the Bank will support those who care about ecology and environmental protection.
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.