“Following the analysis, the Competition Council found that this transaction does not significantly impede effective competition on the Romanian market or in a substantial part of it and that there are no serious doubts as to its compatibility with a competitive environment”, the representatives of the antitrust watchdog announced on Monday (July 15).
Banca Transilvania S.A. 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. and its subsidiaries, OTP Consulting Romania S.R.L., OTP Advisors S.R.L. and OTP Bank Romania Foundation are part of the OTP Group, also offering financial and banking products and services.
On February 8, 2024, Banca Transilvania officially announced in a stock market report the acquisition of 100% of the shares of OTP Bank Romania, as well as of other 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.
In the last decade, Banca Transilvania has acquired four banks – Volksbank (2015), Banc Post (2018), Idea Bank (2022) and now OTP Bank, becoming the No.1 bank in Romania, with a market share of over 20%.
The transaction is now pending the approval of Romania’s central bank.