Competition Protection Agency allows Abanka takeover | NKBM

Competition protection agency allows Abanka takeover

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Competition Protection Agency allows Abanka takeover

5 December 2019

OBVESTILA

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The Slovenian Competition Protection Agency (AVK) green-lighted the takeover of Abanka d.d. by Nova Kreditna Banka Maribor d.d. (Nova KBM).

Nova KBM signed contract for the purchase of shares of Abanka with the Slovenian Sovereign Holding (SDH) in June 2019. This week, Nova KBM received a clearance from AVK, allowing Nova KBM to proceed with the acquisition activities.

To conclude the transaction, further regulatory approvals are required. Until the transaction has been finalized, both entities will continue to operate as usual – as independent legal entities.

Nova KBM continues to invest its efforts in being the most accessible bank in Slovenia, its footprint will remain strong and operations present across all of its regions.

John Denhof, president of the Management Board of Nova KBM, welcomed the AVK's decision, labelling it as an »incredible opportunity for Nova KBM and Abanka to create a stronger combined bank, which is positive for the Slovenia's economy.«

Sorodne vsebine

12 apr OBVESTILA Successful operations of Nova KBM in 2022 and continued growth in OTP Group (Maribor, 12. April 2023) Nova KBM published the Report of the Nova KBM Group and the Bank for the 2022 financial year. The report indicates that we have consolidated our position as the most accessible bank in Slovenia and recorded excellent performance. We provide our customers with top quality and comprehensive financial services that can be performed anywhere and at any time. At the 2022 year-end Nova KBM recorded a profit of EUR 115.6 million and the Nova KBM Group EUR 106.1 million. The ESG Report was published along with the Annual Report, detailing our vision, activities and achievements in introducing environmental and social aspects into business and in the field of corporate governance. 9 feb OBVESTILA Moody’s upgrades Nova Kreditna banka Maribor d.d. deposit ratings to A3 from Baa1, and changes deposit outlook to stable On 7 February 2023, the rating agency Moody’s Investors Service (»Moody's«) upgraded the long-term local and foreign currency deposit ratings of Nova Kreditna Banka Maribor d.d. (»Nova KBM«) to A3 from Baa1 and changed the outlook to stable from ratings under review. Concurrently, Moody's also upgraded Nova KBM's Baseline Credit Assessment (BCA) and Adjusted BCA to baa3 from ba1, and its junior unsecured debt rating to Baa3 from Ba1.The bank’s short-term local and foreign currency deposit ratings were affirmed at P-2.

The most significant acquisition in OTP Group’s history is closed

6 feb OBVESTILA The most significant acquisition in OTP Group’s history is closed OTP Group is pleased to announce that, following the receipt of all necessary regulatory approvals, the acquisition of Nova KBM Group in Slovenia has been successfully completed, finishing the most complex acquisition process ever undertaken by the banking group. The purchase of NKBM is the most significant acquisition in the history of OTP Group enabling the group to become market leader in the fifth country and further strengthen its market position in the CEE Region.