OTP Bank is purchasing a bank in Moldova

OTP Bank Plc. announces that OTP Bank signed an acquisition agreement on purchasing 87.85% shareholding of Mobiasbanca – Groupe Societe Generale S.A. („SGMB”), the Moldovan subsidiary of Societe Generale Group.

With a market share of 13.3%, SGMB is the 4th largest bank on the Moldovan banking market and as a universal bank it has been active in the retail and corporate segment as well.

The financial closure of the transaction is expected in the coming months subject to obtaining all the necessary regulatory approvals.

In addition to concluding the sales contract, the two banking groups signed a cooperation agreement primarily to support the service of international companies in such key areas as international cash management and capital markets services, structured finance and investment banking services.

By signing the co-operation agreement, the two banking groups will maintain and provide high-quality services in these areas to multinational companies in their group member countries. Hungary is part of this co-operation agreement; Bulgaria and Croatia will join shortly. Albania, Serbia and Moldova will be part of it after the closing of the transactions.