OTP buys Nova KBM (2021)
OTP acquired Nova KBM, Slovenia's second-largest bank, from Apollo and the European Bank for Reconstruction and Development. The deal was signed in May 2021 and closed in February 2023; it was OTP's biggest deal at the time.
OTP merged Nova KBM with its existing Slovenian unit and became the country's second-largest bank, behind NLB.
The deal confirmed OTP's method of buying mid-sized national banks and integrating them, the same approach it now brings to Luminor.
Luminor is the Nova KBM playbook scaled up and moved north. It shows how OTP tends to handle an acquisition once regulators clear it.
