The future merged OTP banka will have its Slovenian seat in Ljubljana

Following the acquisition of Nova KBM in February 2023 by OTP Bank, which was the most significant acquisition in the history of OTP Group, the integration with SKB banka, a member of OTP Group since 2019, began. The merger of the two banks is planned for the second half of 2024 (subject to regulatory approvals) and its goal is to create the best and leading bank in Slovenia. The name of the merged bank will be OTP banka and it will offer the very best products and services across an unrivalled network of physical banking points and awarded digital services.

Our clients have already been provided with first, but not last benefits: free cash withdrawals with debit cards at over 450 ATMs in the joint Nova KBM and SKB banka network and since January 2024 at about 4700 OTP ATMs in ten countries in the Central and Eastern Europe region.

The two Slovenian members of OTP Group, supported by the know-how of their owner, are fully committed to ensuring a smooth integration process and to providing all stakeholders with timely information at key milestones of this complex project. After careful consideration it has been decided that the legal seat of the future merged bank will be in Ljubljana, at the location of the current Nova KBM’s Ljubljana Headquarter building at 58, Slovenska cesta.

The Group’s respect for the Slovenian society and its deep belief in the future of the Slovenian economy has been confirmed by the investment in Emonika, one of the country’s most significant real estate projects worth over EUR 350 million. It is planned that upon its completion, the legal seat of the future merged bank will move to a new office building which will be part of the Emonika commercial, office and residential development.

This decision does not affect Nova KBM and SKB banka’s clients in any way; after the merger they will benefit from the biggest physical network including post offices all over Slovenia and the cutting-edge digital banking solutions which won the title of best mobile and digital bank 4th year in a row.

No relocations of Nova KBM or SKB banka’s employees across cities are planned and the two banks’s staff will continue to work in the current premises (e.g. at the main office buildings in Maribor, Ljubljana and Nova Gorica) also after the merger. New employees will continue to be recruited nationwide, if needed. This prospective move has already been communicated to the trade unions and employees of both banks as well as to the local communities.

While tapping into the advantages of being a leading bank in Slovenia and its future centrally located base, OTP banka aims to continue to strengthen its market share nationally. At the same time we will continue to foster mutually beneficial partnerships with local communities wherever we operate.

We also remain one of the major sponsors in Slovenia and will further strengthen our sponsorship and donations in sports, culture, education and charity, both supporting local communities and national initiatives. Apart from several other sponsorships and donations, OTP Group’s commitment to Slovenia was demonstrated with an exceptional donation of EUR 2.2 million to the first responders after last year’s floods.

John Denhof, CEO of Nova KBM, said: „The planned merger of Nova KBM and SKB Banka will be highly beneficial for all stakeholders, especially for our clients and employees. The future combined bank will offer its clients top-of-the range products and services across the most accessible network of convenient service channels, especially our awarded online and mobile bank. Supported by the know-how of our strategic owner, the future bigger and stronger bank will strive to create even more added value for our clients as well as provide ample opportunities for learning and professional development of our employees.”

Imre Bertalan, Chairman of the Supervisory Board of Nova KBM and the future OTP banka: “We strongly believe that the biggest winners of the future merger of Nova KBM and SKB banka will be our clients, as forming the new, future leading financial institution in Slovenia brings new potential for development and innovation. Connecting our strong expertise, we will be able to provide them with more advanced infrastructure from every respect, easier access to branches and ATMs, superior quality and excellent value for money banking products and services, as well as bigger digital and innovation capacities.”