OTP Bank, the Hungarian National Savings and Commercial Bank, enters the Romanian market following the purchase of Bulgaria's largest retail bank DSK Bank
Published:
29 April 2004 y., Thursday
OTP Bank, the Hungarian National Savings and Commercial Bank, enters the Romanian market following the purchase of Bulgaria's largest retail bank DSK Bank.
The share purchase agreement on the acquisition of 100 percent of the shares of Romania's Banca Comerciala RoBank S.A. (RoBank) was signed in Bucharest on April 28.
The price of USD 47,5 M was determined on the base of in-depth analysis and modelled return calculations, said Sandor Csanyi, President and CEO of OTP Bank.
He expressed his conviction that the ownership presence of OTP Bank in Romania, as in Slovakia and Bulgaria, will mean a substantial additional value for business partners, private individuals, corporations, and entrepreneurs.
RoBank ranks thirteenth among the 38 commercial banks operating in Romania, its market share measured in terms of total assets is approximately 1 percent.
The Bank Consolidation Company in Sofia and Hungary's OTP Bank announced the finalization of the deal to privatize Bulgaria's last state-owned bank DSK on October 2 last year. The sale of 100 percent of the capital of DSK, worth BGN 93 984 000, brought to an end the bank sector privatization in Bulgaria.
Hungary's biggest commercial bank was named a preferred buyer for DSK bank after it offered EUR 311 M for 100 percent stake, outbidding Erste Bank of Austria.
Šaltinis:
novinite.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »