The Competition Council authorized the transaction by which Banca Transilvania intends to take over the companies OTP Bank Romania, OTP Leasing Romania IFN, OTP Asset Management Romania SAI, OTP Factoring and its subsidiaries - OTP Consulting Romania, OTP Advisors and Fundatia OTP Bank Romania.
Banca Transilvania is the main company of the Banca Transilvania Financial Group, which offers financial services in Romania, such as banking services, investment services, portfolio management services and leasing.
OTP Bank Romania, OTP Leasing Romania IFN, OTP Asset Management Romania SAI, OTP Factoring and its subsidiaries, OTP Consulting Romania, OTP Advisors and Fundatia OTP Romania are part of the OTP Group, offering financial-banking products and services.
"Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts regarding its compatibility with a normal competitive environment. The decision will be published on the website of the national competition authority, after the elimination of confidential information," reads a press release from the competition watchdog sent to AGERPRES on Monday.
Banca Transilvania signed, on February 9, 2024, the contract for the acquisition of 100% of the shares of OTP Bank Romania, as well as other companies from the OTP Romania Group, including OTP Asset Management SAI and OTP Leasing Romania IFN, the total price of the transaction rising to 347.5 million euros.
Banca Transilvania is the largest bank in Romania and in South-Eastern Europe. As a universal bank, it covers all customer segments and business lines in the financial sector. It has a 20% market share, over 4 million customers, about 10,000 employees, online banking solutions and 500 offices in 180 locations.
Since 2004, OTP Bank, one of the fastest growing banking groups in Central and Eastern Europe, has been the significant shareholder of OTP Bank Romania. OTP Bank Romania has a 2.64% market share based on assets, almost 420,000 individual clients, over 22,000 corporate and SME clients, 1,800 employees and 96 branches.
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