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Hungarians Acquire Banco Popolare Bank in Croatia

Croatia40Hungary’s OTP Bank has acquired a 98.4 percent stake in the Croatian arm of Italian bank Banco Popolare on Friday for a reported 107 million kunas (14 million EUR)…

The Italian bank had more than 250 million worth of assets in 2013, which equated to 0.56% of the Croatian banking sector’s assets. Banco Popolare Croatia reported losses before taxes totalling around 1.2 million euros at the end of September 2013. OTP , which already has business in Croatia, is currently Central Europe’s biggest independent lender and operates in several states

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