Banca Transilvania has acquired OTP Bank Romania

BT has previously received approval for the acquisition of OTP Bank Romania from both the Competition Council and of the National Bank of Romania. The acquisition of OTP Asset Management by BT is in the final approval process.

The subsidiaries that BT acquired

The first step was taken in February 2024, when OTP Group and Banca Transilvania announced the signing of the acquisition agreement. The other subsidiaries acquired by Banca Transilvania are OTP Leasing Romania, OTP Asset Management Romania, OTP Factoring Romania, OTP Consulting Romania, OTP Advisors Romania, and OTP Bank Foundation Romania. Following the completion of the transaction between OTP Group and Banca Transilvania, BT starts the integration of OTP Bank Romania and the other subsidiaries.

Regarding the closing of OTP Asset Management Romania sale, this will take place, after obtaining the relevant authority’s approval, being followed by the integration in Banca Transilvania Group in a future date.

Commenting on the acquisition, officials from BT said they have a strong track record for both organic growth and through M&A’s. Their successive integrations helped them build unique capabilities, become a prominent player in the Romanian market and shape it. This step further helps them in this direction and strengthens their commitment for the Romanian economy. BT is well prepared for a speedy and seamless integration.

What the integration means for OTP Bank Romania

Between the closing and the merger, the two banks and the other subsidiaries will operate as separate entities. This phase does not bring immediate changes for customers, therefore for any services, products, advice, and operations issues OTP Bank Romania’s and other subsidiaries’ teams need to be addressed. The customers will be informed about any new developments of the integration process.

Banca Transilvania will maintain the OTP Group commitments towards the Bethlen Gabor Fund Management and will continue to serve all the customers under the same terms and conditions as existing, including the bilingual services, where it is necessary.