BUDAPEST--OTP Bank Nyrt. (OTP.BU), Hungary's largest bank
purchased Romania's Millennium Bank from Banco Comercial Portugues
S/A (BCP.LB) for 39 million euros ($52.3 million), OTP announced in
a stock exchange filing Wednesday.
MAIN FACTS:
- Millennium Bank has a 0.8% market share in Romania with total
assets of RON2.83 billion ($860 million).
- In the wake of the acquisition, the market share of OTP Bank
Romania will rise to 2.1%, and it will become the 11th largest
Romanian bank.
- After the merger, OTP Bank Romania will have a network of 150
branches, 160 ATMs and nearly 400,000 retail and corporate
clients.
- OTP expects the final settlement of the integration process to
be completed within a year.
Write to Veronika Gulyas at veronika.gulyas@wsj.com; Twitter:
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