Hungary’s OTP Bank is planning to buy a Polish bank with strong online banking knowledge and use its technological expertise trim costs.

OTP reportedly plans to buy Poland’s FM Bank, which at present is owned by a Luxembourg-registered private-equity fund Abris Capital Partners.

Media reports suggest that Abris wants to select a bidder for exclusive talks by the end of October.

The move follows the record loss OTP posted in the second quarter. It has set aside $893m in provisions for charges on loans deemed unfair by the government in Hungary.

The lender has units in nine countries in central and eastern Europe, and its Russia and Ukraine divisions have suffered from the result of the conflict between the two countries.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.