Hungary’s OTP Bank to buy Societe Generale in Serbia

Hungary’s OTP Bank is poised to buy Societe Generale’s Serbian unit. The price of he impending deal has not been disclosed, but the transaction is expected to be finalized within the coming months. The sale, which includes the French bank’s insurance and leasing activities, is part of Societe Generale’s transform-to-grow strategic plan. Societe Generale will remain active in Serbia through its fleet management unit, ALD Automotive. OTP Bank purchased Societe Generale’s Albanian and Bulgarian units earlier this month.