“OTP Bank” is the largest Hungarian commercial group operating in Central and Eastern Europe. The bank states that it serves approximately 17.5 million clients in 11 countries, and its total assets exceed 130 billion euros.
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According to tvnet.lv, the history of this bank began in 1949 when it was founded as the Hungarian State Savings Bank.
Later, after the privatization of the financial sector, the group began active expansion in the region and grew into an international bank over more than two decades.
Currently, “OTP Group” operates in 11 countries – in addition to Hungary, the banking group has divisions in Ukraine, Bulgaria, Serbia, Croatia, Romania, Slovenia, and Russia, among other countries.
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On Monday, 15min reported that “OTP Bank” signed an agreement with a consortium of funds from the US private equity firm “Blackstone” and Norway’s “DNB Bank” for the acquisition of “Luminor”. The transaction is not yet complete – it will require regulatory approvals.
According to economists, a change of ownership alone is unlikely to cause sudden changes in the Lithuanian banking market, but in the long run, it may change “Luminor’s” strategic direction. Meanwhile, politicians and institutions draw attention to another aspect – the banking group’s activities in Russia and the associated reputational and geopolitical risks.
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