Banca Transilvania signed on Friday a contract for the acquisition of 100% of OTP Bank Romania's shares, as well as other OTP Romania Group companies, including OTP Asset Management SAI and OTP Leasing Romania IFN, in a transaction worth EUR 347.5 million.According to a BT report submitted to the Bucharest Stock Exchange a day ago, BT's Board of Directors approved the completion of the transaction."We would like to point out that both Banca Transilvania and OTP Bank Romania SA will act as separate entities until the completion of the transaction. Following signing and in order to integrate the above-mentioned entities in the BT Financial Group, we will initiate and implement the legal procedures necessary for obtaining all necessary approvals from the relevant authorities," the report says.Banca Transilvania is the largest bank in Romania and South-Eastern Europe. As a universal bank, it covers all customer segments and business lines in the financial sector. It has 20% market share in terms of net loans, more than 4 million customers, around 10,000 employees, leading-edge online banking solutions, and a strong branch network countrywide.OTP Bank Romania is a subsidiary of OTP Group, a universal bank with a very good presence in Central and Eastern Europe, active both in the retail and corporate segment.In Romania, OTP Group members are OTP Bank Romania, OTP Consulting, OTP Leasing, OTP Asset Management, OTP Factoring, OTP Advisors and OTP Bank Romania Foundation.With more than 41,000 employees today in 12 CEE and Central Asia countries, the group provides universal financial services to more than 17.5 million customers. OTP Group is headquartered in Hungary. The banking group has been floated on the Budapest Stock Exchange since 1995.
On Monday, December 23, Romanian police brought Nica Robert Florin back to the country. The man convicted of possession of high-risk drugs, bodily harm, and driving under the influence of alcohol, is listed among Romania’s Most Wanted category and was also wanted internationally. Romanian authorities revealed at the beginning of October that they had indications […]
An investigation by the famous British newspaper Financial Times revealed that the campaign of former Romanian presidential candidate Călin Georgescu was supported by a Russian network also used during the pandemic in France and Germany to instill fear of vaccines. The newspaper’s investigation began in continuation of those by Bulgarian and Romanian journalists at BG...
Bucharest’s District 3 City Hall will once again organize a special New Year’s Eve event in Titan Park, with a program of live concerts, multimedia shows, and even a simulation of the Northern Lights. The event, set to begin at 8:00 PM on December 31, will focus on the theme of infinity. “If you missed […]
Traffic on Lot 1 of the A7 Ploiești-Buzău highway, stretching 21 kilometers in southern Romania, was officially opened on Monday, December 23. With this opening, 102 kilometers of the total 320 kilometers of the highway are now usable. The Moldova Highway, as it has been called, is meant to connect Romania's economically underdeveloped eastern regions to […]
The Dutch technology investor Prosus NV, also the majority shareholder of Romania’s largest online retailer eMAG, is set to buy the online travel agency Despegar.com Corp, focused on Latin America, for approximately USD 1.7 billion. The purchase consideration will be funded from existing cash resources, the company said. Founded in Argentina in 1999, Despegar is one […]
The new Forestry Code, which passed the Parliament vote on December 17 and was signed into law by president Klaus Iohannis on December 20, includes provisions that protect all forests in Ilfov, the county surrounding Bucharest, making them the cornerstone of the future green belt around the capital city. Moreover, it legislates green belts nationwide, […]
