OTP Bank Romania to merge with Banca Transilvania by end-February 2025

The shareholders of Banca Transilvania have approved the merger with OTP Bank Romania during the December 18 Extraordinary General Meeting. The integration process, which began in August 2024, is set to conclude on February 28, 2025, when the two banks will officially merge.

Until the merger is finalized, both institutions will continue to operate independently, ensuring a seamless transition for OTP Bank Romania's clients, the companies said.

February 28, 2025, marks the final day for OTP Bank Romania customers to use its products and services, as they will then transition to Banca Transilvania.

Horia Ciorcilă, Chairman of the Board of Directors of Banca Transilvania, stated: "I thank our shareholders for their vote of confidence in the merger plan with OTP Bank Romania. This is BT's fastest integration, taking just seven months. The progress so far aligns with our ambitious plan, thanks to the collaboration of 750 team members from both banks, who have dedicated over 150,000 hours to specific projects. I trust the integration will proceed smoothly to completion, alongside BT's organic growth."

Banca Transilvania acquired OTP Bank Romania and its other Romanian subsidiaries earlier this year for EUR 347.5 million. The integration process has already seen its first milestone, with the merger of BT Leasing and OTP Leasing in early December 2024.

(Photo source: Banca Transilvania)