Hungarian bank purchases controlling stake of Moldovan commercial bank

Chisinau, 11 July /MOLDPRES/ – The Executive Board of the National Bank of Moldova (BNM) on Wednesday, 10 July, approved the acquisition by OTP Bank Nyrt., Hungary, of the share controlling stake (over 50 per cent) of BC Mobiasbanca – Groupe Societe Generale S.A.

According to the BNM's information and media communication service, OTP Bank Nyrt. is a universal bank based in Budapest, Hungary, listed on national and international stock exchanges. The institution is the parent bank of an expanded financial group with presence in more European states, such as: Bulgaria, Romania, Serbia, Croatia, Slovakia, Ukraine, Montenegro, Russia.

"The acquisition of control package of BC Mobiasbanca – Groupe Societe Generale S.A. will be carried out within the framework of strategic objective of OTP Bank Nyrt. – to be the largest and most successful banking group in Central and Eastern Europe. In Moldova, OTP Bank Nyrt. aims primarily to modernise products and services for its depositors, customers by ensuring transparent and efficient corporate governance," stated BNM.

Mobiasbanca was created as an independent bank in 1990. According to Independent Analytical Center Expert – Grup, the Mobiasbanca systemic bank is ranked TOP3 financial institutions with best performances, ranked IInd among the banks with highest return on equity and IIIrd place in the top banks with largest market share for loan portfolio.