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.
OTP Employee package by October 30th 2014 receive a 10%* discount for utility bill payments in the next 6 months.
With OTP Employee the OTP Bank clients benefit from the following advantages:
*The maximum amount that can be refunded monthly is RON 30, if there are no delays in paying the fees for the OTP Employee package.
- FREE OF CHARGE current account management;
- Promotional interest rates for personal loan;
- Interest bonus for term deposits;
The campaign regulation is available 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.
OTP Bank has detected a recent increase in malicious Spyware and Trojan programs targeting many banks’ Online Banking sites. We want you to know what these programs are, how they might affect you, and what to do to lessen your exposure to them. 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.
Personal data up-date We invite you in any OTP Bank branch in order to update your identification data.