Hungarian OTP Bank negotiates acquisition, eyes Romanian bank

OTP Bank, Hungary's largest bank, is currently negotiating with several banks in eastern Europe for a possible acquisition, including a bank in Romania, according to international media. Furthermore, Hungarian bankers would be particularly interested in the Romanian financial market, said Sandor Csanyi, the head of OTP, quoted by Reuters. Romania is the main target market for acquisitions, considering the good position occupied by OTP, Sandor Csanyi said at the annual meeting of shareholders. Bank representatives said that if the initial transaction will be sealed, OTP would reach 10-11 ranked in the top banks in Romania. Currently, OTP is a medium sized bank with a market share of about 1 percent in terms of assets. The original Reuters article here. Irina Popescu, irina.popescu@romania-insider.com (Photo source: Sigmacenter.ro)