Sparkasse to take over Ohridska banka in North Macedonia

Steiermärkische Sparkasse is planning to buy Ohridska banka in North Macedonia from Societe Generale. The purchase price was not disclosed, but Ohridska banka currently has €650m in total assets and employs more than 400 people. The transaction is expected to close in the coming months. Societe Generale announced last year that it would be pulling out of the East European region as well as markets where it is not among the top three lenders. Sparkasse has been operating in Macedonia since 2008. Once Ohridska banka joins its portfolio, Sparkasse’s assets will exceed €1bn.