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OTP Puts Romanian Subsidiary up for Sale 

Banking

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Hungarian lender OTP Bank has officially confirmed, through an announcement made to the bank's directors, that OTP Bank Romania is being put up for sale, a process that could take several months.

If the auction is successfully concluded, the transaction will close in a year, sources on the banking market told Romanian financial newspaper Ziarul Financiar, as quoted by romania-insider.com.

The motivation for the bank's sale was "the lack of growth potential through acquisitions on the Romanian market."

OTP Bank Romania is valued at EUR 300 million-400 mln, to which would be added the repayment of the financing lines to Budapest. 

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