OTP Bank Romania completes merger with Millennium Bank, aims for top 10

Local lender OTP Bank will complete the merger with Millennium Bank Romania by November 2, this year. The merger has begun in January this year, following the transaction worth EUR 39 million for acquiring a 100% stake in Millennium Bank Romania. This deal brings OTP Bank Romania closer to its objective to enter the top 10 local banks, said László Diósi, OTP Bank Romania CEO. In the final stage of the merger, the customers of Millennium Bank Romania will become part of OTP Bank’s IT data bases. After the merger is finalized, OTP Bank will have a 2% market share and move up to the 14th place in the local banks’ ranking. The bank will also increase its network to 125 units and reach 426,000 clients, 13% more than it had before the merger. editor@romania-insider.com