OTP banka Srbija a.d.

OTP banka Srbija, formerly known as Société Générale Srbija, is a commercial bank with headquarters in Belgrade, Serbia. It is owned by Hungarian OTP Bank since September 2019 and is in the process of merging into Vojvođanska banka a.d., a wholly owned subsidiary of OTP Bank.

Not to be confused with Vojvođanska banka a.d., formerly named OTP banka Srbija, to which the bank will merge by 2021.
OTP banka Srbija
Native name
ОТП банка Србија
Joint-stock company
IndustryFinance and Insurance
PredecessorSociété Générale Yugoslav Bank
Société Générale Srbija
Founded12 February 1991 (1991-02-12) (Current form)
1977 (1977) (Founded)
Headquarters
Belgrade
,
Serbia
Area served
Serbia
Key people
Predrag Mihajlović (CEO)
ProductsCommercial banking, Investment banking
Revenue €106.38 million (2016)[1]
€31.75 million (2016)[1]
Total assets €2.039 billion (2016)[1]
Total equity €338.61 million (2016)[1]
OwnerOTP Bank (100%)
Number of employees
1,367 (2016)[1]
Websitewww.otpsrbija.rs

As of 2017, it was the fourth largest bank in Serbia in terms of assets, according to NBS data.[2]

History

In 1977, French Société Générale established a representative office in Belgrade, SFR Yugoslavia. On 12 February 1991, Société Générale Yugoslav Bank was founded as the first bank with foreign capital to be established in former FR Yugoslavia. The bank was a joint venture between Paris-based Société Générale (75%), and the now defunct Beogradska banka (20%) and Banque Franco-Yougoslave (5%). At first, it was established as a unit of SG Corporate & Investment Banking, and provided services to corporate customers only.

In 2001, it became a full-service universal bank, providing services to both corporate clients and individuals. It was only in late 2007 that the bank changed name to Société Générale Srbija in order to reflect the name change of the country it operates in (FR Yugoslavia was renamed to Serbia and Montenegro in 2003, and Serbia became independent in 2006).

In 2014, Société Générale Srbija bought KBC banka's portfolio, while Telenor Serbia bought the KBC banka itself, creating Telenor banka. In December 2017, Société Générale Srbija took housing and cash loans to citizens, as well as credit card debt, from the Jubanka, which was bought by the Serbian AIK Banka in April 2017.[3]

In September 2019, the Hungarian OTP Bank bought Société Générale Srbija after the agreement was made in December 2018,[4] and the process of integration with Vojvođanska banka a.d. is planned to be finalized in 2021.[5] On 25 September 2019, Société Générale Srbija a.d. changed its name into OTP banka Srbija a.d. with headquarters in Belgrade.[6]

Market and financial data

According to its most recent annual financial report submitted to Serbian Business Register Agency, the company has more than 1,300 employees and it posted an annual profit of RSD 3,810,808,000 (approximately €31.75 million at the time) for the calendar year 2016.[1]

See also

References
  1. KONSOLIDOVANI FINANSIJSKI IZVEŠTAJI I NAPOMENE UZ FINANSIJSKE IZVEŠTAJE NA DAN 31. DECEMBAR 2016. GODINE (PDF).
  2. "Kvartalni izveštaj NBS - bankarsko tržište" (PDF).
  3. "U Jubanci bez posla ostaje 800 radnika". novosti.rs (in Serbian). 18 November 2017. Retrieved 3 January 2018.
  4. Landauro, Inty; Szakacs, Gergely (20 December 2018). "SocGen agrees to sell Serbian unit to Hungary's OTP Bank". reuters.com. Retrieved 1 October 2019.
  5. "OTP kupio Sosijete ženeral banku u Srbiji". n1info.com (in Serbian). 25 September 2019. Retrieved 1 October 2019.
  6. "Sosijete ženeral banka DANAS MENJA IME". blic.rs (in Serbian). 25 September 2019. Retrieved 8 December 2019.
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