OTP completes purchase of Albania’s SGAL

Hungarian banking group OTP has completed the acquisition of Banka Societe Generale Albania (SGAL), the Albanian subsidiary of the Société Générale Group.

“I am confident that OTP will play a key role in the Albanian banking market.” said Bledar Shella, SGAL’s general manager.

“Our ambitions are based on facts. OTP Group serves 18.5 million customers with more than 35,000 employees and has a network of over 1,400 branches. Market capitalisation of the group is about 11 billion euros; OTP Group’s total assets remain at about 45.4 billion. The profitability of OTP Group in terms of ROE is the highest among European banking groups. I strongly believe that the strength and stability of the OTP Group will positively influence our network expansion and improve customer service,” added Mr Shella.

With a market share of nearly six per cent, SGAL is the fifth largest bank on the Albanian banking market, active in both the retail and corporate sectors.