Banca Transilvania is the main company of Banca Transilvania Financial Group, which provides financial services in Romania, such as banking, investment services, portfolio management and leasing services.
OTP Bank Romania, OTP Leasing Romania IFN S.A., OTP Asset Management Romania S.A.I. S.A., OTP Factoring S.R.L., OTP Consulting Romania S.R.L., OTP Advisors S.R.L., OTP Bank Romania Foundation, as well as their subsidiaries are part of the OTP Group, also offering financial and banking products and services.
In accordance with the provisions of the Competition Law no. 21/1996, this transaction must be authorised by the Competition Council, which will assess it in order to establish its compatibility with a normal competitive environment and will issue a decision within the time limits provided by the law.
On February 8, 2024, Banca Transilvania officially announced in a stock market report the acquisition of OTP Bank Romania and of the leasing and asset management companies within OTP Romania Group (including OTP Asset Management SAI SA and OTP Leasing Romania IFN SA), for a total amount of EUR347.5 million.
Please read below Banca Transilvania’s official report at the time:
“The Board of Directors of Banca Transilvania approved on 08.02.2024 the completion of the transaction for the acquisition of 100% of the shares of OTP Bank Romania S.A. as well as other companies within the OTP Romania Group (including OTP Asset Management SAI SA and OTP Leasing Romania IFN SA), with the signing of the contract having taken place today. The total transaction price to be paid by Banca Transilvania is EUR347.5 million. We would like to point out that both Banca Transilvania and OTP Bank Romania SA will act as separate entities until the completion of the transaction. Following signing and in order to integrate the above-mentioned entities in the BT Financial Group, we will initiate and implement the legal procedures necessary for obtaining all necessary approvals from the competent authorities.”