Strategy and Finance Division
Investor Relations & DCM
Reference number: IR-127/2021
29 September 2021
Extraordinary announcement
OTP Bank is set to acquire majority stake in the Uzbek Ipoteka Bank
OTP Bank Plc. announces that OTP Bank signed a non-binding Memorandum of Agreement regarding the potential acquisition of the majority stake of Ipoteka Bank and its subsidiaries with the Ministry of Finance of the Republic of Uzbekistan.
Ipoteka Bank is the fifth largest bank in Uzbekistan, with a market share of 8.5% based on total assets at the end of July 2021, with more than 1.2 million retail customers and a large corporate clientele.
The terms and conditions of the purchase of the bank will be stipulated in the final share sale and purchase agreement, which the parties are set to conclude before the end of the year.
OTP Bank Plc.
OTP Bank Plc.
Postal address: P.O.B.: 501
Budapest H-1876 Hungary
Phone: +36 1 473 5460
Fax: +36 1 473 5951
E-mail: investor.relations@otpbank.hu
Internet: www.otpbank.hu
Address: Nádor street 16. Budapest H-1051 Hungary
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OTP Bank Nyrt. published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2021 14:41:02 UTC.