Banca Transilvania, Raiffeisen in race for OTP’s Romanian subsidiary

The sale of OTP Bank Romania – the submission of final offers, the selection of a winner – was deferred from September to October, with Banca Transilvania and Raiffeisen Bank still in the race after EximBank abandoned, sources familiar with the negotiations told Zarul Financiar.

OTP reportedly hopes that UniCredit will return to place a bid, according to Romania-Insider.com.

In the spring of this year, the Hungarian group OTP announced that it is putting up for sale OTP Bank Romania, which ranks tenth in the market, with a share of 2.8% by assets.

OTP, which expanded in Romania through the acquisition of two banks – RoBank and Millennium Bank, plus organic growth, said that it is exiting the Romanian market because the chances of buying another bank are very low.

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