2024: Purchase of the Romanian branch of the Hungarian bank OTP for 350 million euros
In February 2024, it was announced that OTP Bank was leaving Romania after 20 years of work. The Hungarians sold their business for 350 million euros to the largest Romanian bank Banca Transilvania. About this writes Daily News Hungary with reference to the site 444.hu. OTP Bank, leaves Romania after 20 years of work.
OTP Bank Romania SA controls 2.64% of the Romanian market by total net assets. At this time, it serves about 420 thousand retail clients and more than 22 thousand corporate clients. The bank employs 1,800 employees. At the time of the merger, Romania had 96 OTP Bank branches.
The agreement is already closed, but several Romanian regulators, including the national bank, must approve it. Banca Transilvania plans to absorb all OTP subsidiary banks and integrate them into its network.
The buyer promised to keep the service in several languages. The OTP Group brand will temporarily remain to ensure a smooth transition for customers and partners until the merger is completed.
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