OTP banka Srbija, formerly known as Société Générale Srbija, was a commercial bank with headquarters in Belgrade, Serbia. It was owned by Hungarian

OTP Bank OTP Bank Group is the largest commercial bank of Hungary and one of the largest independent financial service providers in Central and Eastern Europe and with banking services for private individuals and corporate clients. The OTP Group comprise ...

since September 2019 and was mergied into Vojvođanska banka a.d., a wholly owned subsidiary of OTP Bank. Subsequently, Vojvođanska banka a.d. changed its name to OTP banka Srbija a.d. Novi Sad. On 30 April 2021, the bank finally merged into the Vojvođanska banka a.d., which was then renamed to OTP Banka Srbija a.d. Novi Sad.

History

In 1977, French

Société Générale Société Générale S.A. (), colloquially known in English as SocGen (), is a French-based multinational financial services company founded in 1864, registered in downtown Paris and headquartered nearby in La Défense. Société Générale ...

established a representative office in Belgrade, SFR Yugoslavia. On 12 February 1991, Société Générale Yugoslav Bank was founded as the first bank with foreign capital to be established in former

FR Yugoslavia Serbia and Montenegro ( sr, Cрбија и Црна Гора, translit=Srbija i Crna Gora) was a country in Southeast Europe located in the Balkans that existed from 1992 to 2006, following the breakup of the Socialist Federal Republic of Yug ...

. The bank was a joint venture between

Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), ma ...

-based Société Générale (75%), and the now defunct Beogradska banka (20%) and Banque Franco-Yougoslave (5%). At first, it was established as a unit of SG Corporate & Investment Banking, and provided services to corporate customers only. In 2001, it became a full-service universal bank, providing services to both corporate clients and individuals. It was only in late 2007 that the bank changed name to Société Générale Srbija in order to reflect the name change of the country it operates in (FR Yugoslavia was renamed to Serbia and Montenegro in 2003, and Serbia became independent in 2006). In 2014, Société Générale Srbija bought KBC banka's portfolio, while

Telenor Serbia Yettel Serbia (known as Telenor Serbia until 2022) is a Serbian mobile, fixed, internet and IPTV provider, owned by the Czech investment group PPF. It is headquartered in Belgrade. As of 2020, it is the second largest mobile telephony operator w ...

bought the KBC banka itself, creating Telenor banka. In December 2017, Société Générale Srbija took housing and cash loans to citizens, as well as credit card debt, from the Jubanka, which was bought by the Serbian AIK Banka in April 2017. In September 2019, the Hungarian

bought Société Générale Srbija after the agreement was made in December 2018, and the process of integration with Vojvođanska banka a.d. is planned to be finalized in 2021. On 25 September 2019, Société Générale Srbija a.d. changed its name into OTP banka Srbija a.d. with headquarters in Belgrade.

Market and financial data

According to 2019 consolidated financial report submitted to Serbian Business Register Agency, the bank has 1,405 employees and it posted an annual profit of

€ The euro sign () is the currency sign used for the euro, the official currency of the eurozone and unilaterally adopted by Kosovo and Montenegro. The design was presented to the public by the European Commission on 12 December 1996. It consists ...

33.90 million for the calendar year 2019.

References

{{Reflist 1977 establishments in Serbia 2021 disestablishments in Serbia 2018 mergers and acquisitions 2021 mergers and acquisitions Banks established in 1991 Banks disestablished in 2021 Banks of Serbia Companies based in Belgrade Société Générale

History

Market and financial data

See also

References