Romania’s central bank rejects big transaction on the banking market

Romania’s National Bank (BNR) rejected the transaction through which OTP Bank Romania was going to take over Banca Romaneasca, the local subsidiary of National Bank of Greece (NBG) group, sources from the market told Profit.ro.

It’s for the first time when the central bank opposes a deal agreed by two private groups since the consolidation process on the local banking market started, after the crisis, according to Romania-Insider.com.

OTP Bank Romania, which is part of the biggest financial group in Hungary, agreed last summer to take over NBG’s subsidiaries in Romania, the biggest of which is Banca Romaneasca. The Competition Council gave its OK on this transaction in December. However, the central bank has the final say when it comes to transactions involving local banks.

OTP Bank Romania’s representatives said they hadn’t received any answer from BNR on this transaction.

Comments

comments