Following the increase, the share capital of OTP Bank Romania rose to nearly RON1.38 billion. The capital injection may come in the context in which OTP bought Banca Romaneasca from Greek group National Bank of Greece (NBG) in the summer of 2017.
Romania’s Competition Council cleared OTP Bank Romania’s acquisition of Banca Romaneasca, but the start of the integration process is pending approval by the Romanian central bank.
End-2017, OTP Bank had a market share of 2.09%, placing 11th by assets, while Banca Romaneasca ranked fourth, with a 1.62% market share. After the acquisition of Banca Romanesti, OTP will have a market share of nearly 4% and will be included in the ranking of ten most powerful banks in Romania, possibly on the eighth spot.
OTP Bank registered a profit of nearly RON31 million between January and September 2017, down 5% from the year-earlier period.