OTP Bank Albania and Alpha Bank Albania become one bank proceeding as OTP Bank Albania
OTP Bank Albania announces the completion of the legal merger between Alpha Bank Albania and OTP Bank Albania, which as of December 1, 2022 operates under the name OTP Bank Albania.
The result of this merger reduces the total number of the banks in the country to 11 out of 12. It also positions OTP Bank Albania as the fifth largest player in terms of total assets and the third largest player in terms of customer loans in Albania, thus further strengthens its market position in Albania.
The clients of the merged bank shall benefit from a larger branch network, a larger well-positioned and multifunctional network of ATMS, a vast network of POSs, as well as more attractive products and innovative services. The first noticeable change that customers will encounter is that the logo and color will gradually go green throughout the network.
As a result of the legal merger, in terms of total assets, the market share of OTP Group in Albania has reached 11% and the customer loan portfolio increased by one and a half times. Based on the latter, OTP Bank Albania has become the third largest market player with a 16.3% market share. The full integration process of OTP Bank Albania and Alpha Bank Albania is planned to last until the end of 2023.