Romanian supervision approves OTP acquisition

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The Romanian competition council has approved OTP Bank's latest acquisition in Romania, Banca Romaneasca. In a statement released on Monday, the authority said the transaction would not inhibit free competition in the Romanian market.
OTP signed the deal for buying Banca Romaneasca from National Bank of Greece in July, but the price was not made public.

The acquisition still requires approval from the Romanian central bank. The deal would increase OTP Bank Romania's market share to about 4%, making it the eighth biggest player in the Romanian market. OTP previously bought Millennium Bank of Romania from Portugal's Banco Comercial Portugues in 2014.
 

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