Banca Transilvania has signed a binding agreement with OTP Group to buy its stake in OTP Bank Romania.
Banca Transilvania is the largest bank in Romania and South-Eastern Europe.
OTP Group, which is Hungarian, is selling the subsidiaries of OTP Bank Romania as well which results fully exiting the Romanian market.
The combined purchase price is EUR 347.5 million, reports Banca Transilvania.
The OTP Group’s brand name will temporarily remain in place to ensure a smooth transition for customers and colleagues until the merger is completed.
There are no actions required from OTP Bank Romania’s clients as a result of the transaction, as they will continue being served under same terms and conditions as before.
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