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Posted by: Mihaela Bucatari

News / Economic

06 Feb. 2019 / 10:59

Hungary's largest bank intends to buy the majority stake in Mobiasbanca

OTP Bank Group - the largest banking institution in Hungary and the third in Central and Eastern Europe, intends to come up with investments in the Republic of Moldova. In this respect, an agreement with Societe Generale concerning the acquisition of the majority stake in Mobiasbanca - Groupe Société Générale SA was concluded.

The transaction will only be possible after the OTP Bank Group requests and obtains the prior permission of the National Bank of Moldova (NBM), as stipulated in the Law on the Activity of the Banks of the Republic of Moldova.

OTP Bank Group has almost 30 years of experience in banking and operates in nine European countries. In the Republic of Moldova, it aims, as a matter of priority, to modernize products and services for depositors and clients and to ensure transparent and efficient corporate governance.

If the OTP Bank Group obtains permission from the NBM, the change of the shareholder to BC "Mobiasbanca - Groupe Société Générale" SA will not affect the Bank's activity. It will continue to operate normally and provide all services, including those related to deposit, lending and settlement operations, the National Bank said in a press release quoted by IPN.

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