OTP Group keeps expanding, the banking group completes the purchase of Alpha Bank Albania

OTP Group keeps expanding, the banking group completes the purchase of Alpha Bank Albania

July 19th 2022 marked a very important day for OTP Group.

During the organization of an event with wide participation by the group’s top executives, stakeholders and media representatives, a press conference was held in which was announced the completion for the purchase procedure of Alpha Bank Albania. As communicated during the conference, the successfully closed transaction makes OTP Group an important actor in the Albanian market, respectively the fifth largest in terms of total assets and the third in terms of loan portfolio.

During the conference, speeches were given by important representatives of OTP Group.
Mr. Bledar Shella, Chief Executive Officer of OTP Bank Albania, said that: “With the purchase of Alpha Bank, we have purchased a very good bank, with very positive asset quality, with a well-prepared staff and a long history in our banking market. The merge of the two banks will allow us to achieve things that we could not achieve separately and will give us the right size to be even more eficient and to offer better products and terms to our customers. Our goal is to be the leading bank the Albanian market and this will be achieved through organic growth and potential future purchases if the opportunity arises”.

Mr. László Wolf, deputy CEO of OTP Bank in Hungary said that: “The purchase of Alpha Bank Albania came as a result of the belief in the development of Albania and the region. Albania’s entry into the European Union will further contribute to the country’s development and strengthen the role of OTP Bank Albania in the Albanian market. With this transaction, we confirm not only our long-term and serious commitment to the Albanian banking market but also demonstrate that OTP Group has a solid foundation, it is well capitalized, has an outstanding liquidity, and the management is committed to strengthening regional presence”.

Until the legal merge (expected to happen by the end of 2022), the two banks will operate as separate entities, meaning that Alpha Bank Albania will continue to use the name ‘Alpha Bank Albania’ for an interim period, but is no longer part of or in any way connected with Alpha Bank Group. The process of complete integration of Bank OTP Albania and Alpha Bank Albania is planned to last until 2023.

OTP Group is one of the most stable financial groups in the CEE region with outstanding profitability and stable capital and liquidity positions. The banking group is headquartered in Budapest, Hungary and has a diversified and transparent ownership structure. The banking group has been listed on the Budapest Stock Exchange since 1995.