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The Competition Authority authorizes the acquisition of Alpha Bank by OTP

2022-05-02 11:04:04Biznes SHKRUAR NGA REDAKSIA VOX
The Competition Authority authorizes the acquisition of Alpha Bank by OTP
The Competition Authority has authorized the sale of Alpha Bank Albania to the Hungarian banking group OTP

The Competition Authority has authorized the sale of Alpha Bank Albania to the Hungarian banking group OTP, paving the way for further concentration of the banking market in Albania and reduction of the total number of banks from 12 to 11.

At the end of the analysis, the Competition Commission concluded that the target concentration does not show signs of significantly restricting competition in the market or in a particular part of it, as a result of the creation or strengthening of a dominant position. However, the Competition Commission has decided to monitor the behavior of OTP Bank Albania, for a period of 1 year.

The Competition Authority has analyzed the efficiency of the competitor leaving the market, through the evaluation of its financial performance indicators according to economic terms, financial result, rate of return on investment (ROE) and rate of return on assets (ROA).

According to these indices, as well as based on the model of assessment and projection of the financial situation, it turns out that OTP Bank Albania has better financial indicators than Alpha Bank Albania, which shows that the competitor that will remain in the market is more effective.

The agreement between the Greek group Alpha Bank and the Hungarian one for the acquisition of Alpha Bank Albania was officially announced at the end of December 2021. The Greeks chose the offer of the Hungarians of 55 million euros for the purchase of 100% of the bank's shares, although OTP's offer was second highest in the race. For the Hungarian group, this will be the second important acquisition in the Albanian market in less than four years. In 2019, OTP entered Albania by purchasing the Albanian bank of the Societe Generale group. OTP Albania Bank at the end of last year was the fifth largest bank in Albania and owned 6.4% of the banking market assets, for a total value of ALL 114 billion. OTP is the fourth largest lender in the Albanian economy, with a portfolio of ALL 69 billion or 10.6% of the total credit provided by the banking sector.

OTP Albania closed the year 2021 with a net profit of ALL 1.9 billion. Based on preliminary data published by the Albanian Banking Association, OTP had a return on equity of 20.3%, the highest in the Albanian banking sector for the past year. While Alpha Bank Albania at the end of last year reported a total value of assets of ALL 80 billion or 4.5% of the market. Alpha also closed the year 2021 with a positive financial result, in the value of about 88 million ALL.

Transaksioni në fjalë do të sjellë një përqendrim të mëtejshëm të tregut bankar në Shqipëri dhe do ta ulë numrin e përgjithshëm të bankave në 11. Me blerjen e Alpha Bank, pjesa e tregut e OTP në Shqipëri pritet të arrijë në afërsisht 11% dhe do të vazhdojë të renditet e pesta në treg për nga madhësia, pas BKT, Credins, Raiffeisen, dhe Intesa Sanpaolo. Megjithatë, OTP do të fitojë një pjesë ndjeshëm më të larta në tregun e kredisë, ku do të arrijë në mbi 16% të totalit, duke kaluar BKT dhe duke u renditur si huadhënësi i tretë më i madh, pas Credins Bank dhe Raiffeisen Bank. Blerja e Alpha do t’i japë OTP një rritje të konsiderueshme edhe në tregun e depozitave, ku aktualisht mban 6.7%, ndërsa pas blerjes së Alpha do të arrijë në 11.3%, afërsisht me të njëjtën pjesë tregu sa Intesa Sanpaolo.

To be finalized, the acquisition of Alpha Bank by OTP must be approved by the Bank of Albania, which in recent years has expressed positively about the consolidation process of the banking sector./MONITOR


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