Banca Transilvania (BT) acquired today OTP Bank Romania, as well as the other subsidiary OTP Group from Romania. The transaction has recently received approval from the Competition Council and the National Bank of Romania. The acquisition of one of the subsidiaries, OTP Asset Management, is in the approval stage by the authorities.

The first step was taken in February 2024, when BT and OTP Group announced signing of the purchase agreement. The others subsidiary purchased by Banca Transilvania are OTP Leasing Romania, OTP Asset Management Romania, OTP Factoring Romania, OTP Consulting Romania, OTP Advisors Romania and OTP Bank Romania Foundation. Given that the transaction has been completed, Banca Transilvania begins the integration of OTP Bank Romania and the other subsidiaries.

Regarding OTP Asset Management, the closing of the transaction will take place at a later date, after receiving approvals from the authorities, and will be followed by integration into the BT Group.

“Banca Transilvania has a very successful history both in terms of organic growth and acquisitions. The integrations of the acquired companies have helped us to develop unique capabilities, to become the leader of the Romanian market, and to outline the strategy of the Banca Transilvania Group to become the leader in all segments. The step taken today is in this direction and strengthens our commitment to support the Romanian economy. Thank you, OTP Group, for the trust, and to the OTP Bank Romania team, for what has been achieved over 20 years. BT is ready for a quick and smooth integration, I am confident that we will execute a very good integration into the Banca Transilvania Group, in the interest of clients, employees, and the market.”
Horia Ciorcilă, President of the Board of Directors, Transilvania Bank

“The main, strategic objective of OTP Group is to increase its market share in Central and Eastern Europe – and recently, in Central Asia – through organic growth and acquisitions. We had the same strategy in Romania for twenty years, but we did not manage to reach the desired market share, so management's decision was to sell these subsidiaries. This step allows our group to target markets where it can have a much larger presence in the future. I am convinced that Banca Transilvania, as the market leader in Romania and the new owner of OTP Bank Romania, will offer numerous opportunities to clients and employees. I thank the management and the OTP Bank Romania team for their dedication and work at high standards over the course of twenty years, during which OTP Bank Romania was a stable market player, with notable contributions and high standards regarding financial services in Romania.”
Sándor Csányi, President and Chief Executive Officer, OTP Bank

Integration management
The integration will be coordinated by Luminița Runcan, as General Manager of OTP Bank Romania – after receiving approval from BNR for the new position. Luminița Runcan has over 30 years of experience in the banking field, during which she has held several management positions at Banca Transilvania, including Deputy General Director of Treasury and Deputy General Director of Risk Management. Also part of the top management are Luca Rogojanu, Deputy General Director, Coordinator of the Credit and Risk Management Division, and Constantin Mareș, Deputy General Director, Coordinator of the Digital Division at OTP Bank Romania.

What does the integration period mean for OTP Bank Romania clients and other subsidiaries
During the integration period into the Banca Transilvania Group and until the merger, OTP Bank Romania and Banca Transilvania, as well as the other subsidiaries, will operate independently. The transition phase does not bring immediate changes for clients, so for services, products, consultancy, and operations, it is necessary to continue addressing the teams of OTP Bank Romania and the other subsidiaries. As new stages of the integration are completed, clients will be informed about all the news brought by the integration.

Banca Transilvania will continue the commitments initiated by OTP Group towards the Bethlen Gabor Foundation, such as the bilingual services offered to OTP Bank Romania customers, where necessary.

Partners of Transilvania Bank and OTP Group
For the success of the transaction, Banca Transilvania collaborated with Filip & Company, Barclays Bank Ireland PLC and PwC Romania, and OTP Group, with CMS Cameron McKenna Nabarro Olswang Romania and the United Kingdom, Deloitte Advisory and Management Consulting Plc.