Podgorica, (MINA-BUSINESS) – Sociate Generale Group has signed an agreement for sale of a stake in its Montenegrin subsidiary to Crnogorska komercijalna banka (CKB), i.e. OTP Group, subject to receipt of clearances from the relevant banking, antitrust and market authorities.
Societe Generale banka Montenegro says in a press release that the closing of the transaction is expected in the coming months.
“In the coming months, Societe Generale Group and OTP Group will be working together on obtaining the necessary clearances,” the press release says.
The press release says that Societe Generale banka Montenegro will continue to provide high-quality service to its retail and corporate clients, while preparing a smooth transition for its clients, ensuring the stability in their relations with the bank.
“Societe Generale Montenegro will be part of the cooperation agreement signed between Societe Generale and OTP Bank that encompass the provision of mutual services in various fields, including, but not limited to investment banking, capital markets, financing cash and liquidity management,” the bank says.
The press release says that the agreement includes Hungary and will soon be extended to Croatia and Bulgaria, while Albania, Moldova and Serbia will join once the transactions has been closed.
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