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The Competition Council is looking at the deal whereby OTP Bank Romania is taking over Banca Romaneasca SA from National Bank of Greece (NBG), as well as the Romanian assets pertaining to NBG's London branch and its Maltese subsidiary, the Council said in a release on Wednesday.
The acquired assets represent loans and related guarantees subject to agreements between NBG's London branch and its Maltese subsidiary, respectively, and various Romanian customers. Both OTP Bank Romania and Banca Romaneasca SA operate in the sector of financial and banking services. OTP Bank Romania is a member of OTP Group that provides universal financial services in Hungary, Romania, Montenegro, Croatia, Bulgaria, Russia, Ukraine, Slovakia and Serbia.
Banca Romaneasca SA is a financial institution focusing mainly on the retail segment. "The Competition Authority will assess this economic concentration in order to determine the compatibility with a normal competitive environment and release a decision within the legal time limit," the release states.
