OTP Bank Nyrt. (BUSE:OTP) is in talks to buy Nova Kreditna Banka Maribor d.d. (Nova KBM) from Apollo Global Management, Inc. (NYSE:APO) in a deal worth roughly €1 billion ($1.2 billion), people close to the matter said. Apollo, which owns 80% in Nova KBM, and OTP were not immediately available for comment.

The European Bank for Reconstruction and Development, which owns 20%, declined to comment.