Bucharest, July 30th, 2014 – OTP Bank Romania, member of OTP Group, signed an acquisition agreement for purchasing 100% stake of Millennium Bank Romania, member of Banco Comercial Português. The purchase price was EUR 39 million.With a total assets of RON 2.83 billion (app. EUR 635 million) as of 31 December 2013 Millennium Bank is the 22nd player on the Romanian banking market, which translates into a 0.8% market share. As a result of the acquisition the market share of OTP Bank Romania will rise to 2.1% and the bank will step forward to the 11th place amongst Romanian banks.
Millennium Bank has nearly 80 thousand clients. Its branch network consists of 56 units with strong concentration in Bucharest and it has 58 ATMs. As a result of the acquisition the number of OTP Bank Romania clients will reach almost 400 thousand, the number of branches will be almost 150 and the number of its ATMs will exceed 160.
After finalizing all legal formalities, OTP Bank Romania will proceed to complete the integration process. The team of the bank will make efforts to focus on providing simple, efficient solutions for retail and corporate clients of both banks. OTP Bank Romania is devoted to ensure a smooth transition for clients of Millennium Bank Romania, corresponding to our continuous striving for quality services that drives the bank since its establishment. The integration process is expected to be executed within 1 year.
Individual clients that perform at least one login in the OTPdirekt Internet Banking service or the Smart Bank Mobile Banking application, in the timeframe 17.11.2014 – 17.02.2015, can win by drawing of lots attractive prizes. Details
For a better manage of your incomes and expenses, OTP Bank launches MyMentor tool for handling of personal finances available in OTPdirekt-Internet Banking platform.
MyMentor users have access to the following functions:
- Categorizing the incomes and expenses
- Managing and splitting transactions in more categories
- Automatic classifying of transactions made by card
- Viewing charts for incomes and expenses
Try the new tool from the OTPdirekt platform.
Don’t you have OTPdirekt yet? Apply here.
OTP Bank Romania S.A., member of OTP Group, is firmly committed to comply with F.A.T.C.A. requirements; to that end, the entire customer data-base will be reviewed in the following period in order to determine the F.A.T.C.A. status of the customers and, where necessary, the Bank may request additional information and documents so that the implications of the new legislation are properly assessed. More information here.
We trust the power of the will to do good. This is why we launched the national social responsibility campaign „Right to read”. In the past 3 years, we reached to 162 disadvantaged schools from rural areas, equipping them with bookcases and books. We gave the right to read to over 31.000 children, giving them access to more than 96.000 volumes age appropriate.
Follow our activity with step by step on www.estedreptulmeu.ro.