OTP Bank to buy Romanian branch of NBG

The Hungarian OTP Bank has reached an agreement on the takeover of the Romanian Banca Romaneasca, which operated under the control of the Greek NBG, Reuters reports. OTP thereby continued expanding in central and eastern Europe by taking over banks.

Representatives of OTP earlier stated that they were interested in the Romanian bank, but also in other banks in the region, to the end of strengthening their presence in central Europe.

Analysts estimate that, by taking over this bank, OTP might reach a market share of 3.6% in Romania, whereas the management has set 5% as the goal. Furthermore, the estimate is that the transaction would be on the level of the bank's book value, similar to the recent case in Croatia, when OTP took over Splitska Banka from Societe Generale.

NBG earlier stated for Reuters that it intended to also sell its operations in Albania, Cyprus and Serbia, where it is present through Vojvodjanska Banka, Wisebroker reports.

OTP banka Srbija a.d. Novi Sad

Vojvođanska banka a.d. Novi Sad

OTP banka Srbija a.d. Novi Sad

Societe Generale - Splitska banka d.d. Split

OTP Bank

Vojvodjanska Banka

NBG Bank

Banca Romaneasca

Splitska Banka

Societe Generale Banka