OTP Bank aims for 5% market share in Romania in three years

OTP Bank, the local subsidiary of the largest Hungarian financial group, wants to reach a 5% market share in the next two or three years, said Laszlo Diosi, general manager OTP Bank Romania. The lender does not exclude acquiring a bank with a market share of 2-3%. OTP Bank bought local lender Millennium in mid-2014 for EUR 39 million. It will complete the acquisition in October this year, and will get closer to the top 10 banks in Romania, increasing its market share to over 2%. “Starting November 1, we’ll be a single bank,” said Laszlo Dios, cited by local Agerpres. He added that the local lending will stagnate this year, but only because banks still sell bad loans. However, in terms of new loans, lending will go up by 3-4%. editor@romania-insider.com