Competition Council greenlights Banca Transilvania’s takeover of OTP Bank Romania

Romania’s Competition Council has authorized the transaction through which Banca Transilvania intends to take over the local companies controlled by Hungarian group OTP - OTP Bank Romania, OTP Leasing Romania IFN, OTP Asset Management Romania, OTP Factoring, and its subsidiaries, OTP Consulting Romania, OTP Advisors, and OTP Bank Romania Foundation.

Banca Transilvania (BVB: TLV) is the biggest financial group in Romania by assets, and with this transaction will consolidate its position and increase its market share to almost 23%.

“Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or a substantial part of it and that there are no serious doubts regarding its compatibility with a normal competitive environment,” the watchdog said in a press release.

Banca Transilvania and OTP group announced the transaction in February 2024. The value of the deal is EUR 347.5 mln.

(Photo source: OTP Bank)