Romania’s central bank blocks Banca Romaneasca’s takeover by OTP

Sorin Melenciuc 14/03/2018 | 16:27

The National Bank of Romania (BNR), Romania’s central bank, rejected the takeover of Banca Romaneasca by Hungarian group OTP, banking industry sources told Business Review on Wednesday.

According to the sources, the central bank sent an official notification to OTP with the announcement and the details of the decision. OTP dind’t make any official announcement so far.

OTP signed the agreement with National Bank of Greece (NBG), the owner of Banca Romaneasca, for the takeover in July 2017.

The transaction was approved in December 2017 by Romanian anti-trust body, but the approval of the central bank is mandatory for concluding the transaction.

In 2016, OTP acquired Millennium Bank from Banco Comercial Portugues, but is is still a medium-sized player on the Romanian banking market.


BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Sorin Melenciuc | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of
    I agree with the storage and handling of my data by
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue