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OTP Bank could appeal National Bank of Romania decision to deny Banca Romaneasca takeover

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2018-03-19 11:54

OTP Bank statement:

OTP Bank Plc. („OTP Bank”) informs hereby the capital markets that the National Bank of Romania in a management letter notified OTP Bank’s Romanian subsidiary bank on 14 March 2018 that it did not grant its approval for the acquisition of the 99.28% shareholding held by National Bank of Greece S.A. in Romanian Banca Romaneasca S.A. and the acquisition of other Romanian exposures of other Romanian subsidiaries of National Bank of Greece S.A. by OTP Bank Romania S.A.

The management is analyzing the legal aspects of the letter of the supervisory authority, the deadline for appealing against the objection is 29 March 2018.

Nevertheless, OTP Bank’s management is still committed to enhance its presence in Romania via organic growth or further acquisitions.

Simultaneously, OTP Bank adheres to its acquisition strategy dedicated to the Central and Eastern European region and beyond the capital required for organic growth the management intends to allocate significant part of the generated excess capital for further value-creating acquisitions.

Taguri: Banca Nationala a Romaniei (BNR)OTP Bank

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