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.
The 13th edition of Romanian Design Week will take place in Bucharest between May 16 and 25, 2025, with the theme "Design Tomorrow Today." According to the organizers, starting with the 2025 edition, the festival begins a transformation process, focusing on collaboration, sustainability, and a deeper connection with the city and its residents. The program […]
Kodesage, a Hungarian startup specializing in AI-powered solutions for legacy software modernization, has raised EUR 2.3 million in pre-seed funding led by PortfoLion Capital Partners. Romanian angel investors Marius Istrate and Dan Lupu, former UiPath executives, also participated in the funding round. Kodesage’s AI-powered platform streamlines modernization and accelerates employee onboarding while ensuring compliance and […]
Thousands of Romanians in the United States risk deportation at any moment under Donald Trump’s new immigration policy that targets illegal immigration, according to media reports. Less than 10 days after Donald Trump’s inauguration, over 3,500 illegal immigrants from various countries, mostly from Latin America, have already been deported, and images of them in handcuffs […]
A Memorial Route of the December 1989 Revolution will be set up in Timişoara, the western Romania city where the 1989 started. The route will include nine points marked by ground-level monuments. Where the space allows it, benches will also be added and trees planted, the Timişoara City Hall said. Each monument will feature a […]
Eltra Logis, one of the main players in the niche logistics, transport and storage market, plans to expand its warehouse capacity by another 10,000 sqm, reaching a total of 20,000 sqm in the near future. This expansion will enable the company to meet the growing demand from businesses and strengthen its market position, continuing to […]
A group of Romanian citizens stranded in the North Kivu region of the Democratic Republic of Congo due to military conflict has been successfully evacuated from the country, but not before some of them were filmed being threatened by the advancing rebels. The Romanian citizens were working as private contractors for the Congolese government, training […]
