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KBC Closes Acquisition of OTP Banka Slovensko
Monday 30 November 2020

Belgium-based KBC Group and Hungarian bank holding company OTP Bank, the parent company of OTP Banka Slovensko, have closed the agreement announced on 17 February 2020 for KBC Bank NV to acquire ownership of 99.44% of the shares in OTP Banka Slovensko, a.s., the companies said.

The remaining shares are held by a number of private individuals.

The transaction received regulatory approval from the National Bank of Slovakia, the National Bank of Belgium, the European Central Bank and the Antimonopoly Office of the Slovak Republic.

It has only a limited impact (-0.2%) on KBC's solid capital position, keeping KBC's excellent 3Q2020 CET1 ratio of 16.6% (Basel III fully loaded, Danish compromise) well above regulatory minimum capital requirements.

As a result of the transaction, KBC Bank NV is now the new parent company of OTP Banka Slovensko.

The next logical step is the legal and operational merger of Československá obchodná banka, a.s. and OTP Banka Slovensko, which will further consolidate ČSOB's current number four position on the Slovakian banking market in terms of assets, with a market share of approximately 12.6%.

OTB Banka Slovensko's brand name will initially remain in place to ensure a seamless transition. In the meantime, OTP Banka Slovensko, with the full support of ČSOB, will continue to honour its commitments to the market and to provide professional service of the highest level to all its customers, who will not have to take any action as a result of the transaction.

OTP Banka Slovensko, a.s. operates on the Slovak market as a universal bank.

Since 4 April 2002, OTP Bank Plc., Hungary's largest bank, has been the majority shareholder of OTP Banka Slovensko, a.s.

At the end of 2019, OTP Banka Slovensko, a.s. had a market share of 1.75% in deposits and 1.85% in loans.

It currently operates a network of 58 branches throughout Slovakia and serves roughly 176 000 retail customers and 14 400 corporate/SME customers.

The bank is based in Bratislava and the bulk of its business relates to banking products and services provided to individuals and legal entities within the Slovak market.

Belgium-based KBC Bank NV is the parent company and sole shareholder of Československá obchodná banka, a.s.. ČSOB is a leading Slovak bank boasting over 50 years of tradition.

As a universal bank, it provides services to a full range of customers including retail, self-employed, SME, corporate and institutional customers.

It is part of the ČSOB Financial Group, which also includes ČSOB Stavebná sporiteľňa, a.s. (building society), ČSOB Leasing, a.s., ČSOB Real, s.r.o., ČSOB Advisory, s.r.o. and ČSOB Nadácia (foundation).

ČSOB Poisťovňa, a.s. (insurance company) is a sister company of ČSOB.
Date Published: 30/11/2020