OTP Bank, the biggest Hungarian financial group, is looking to strengthen its presence on regional markets, Romania included, with the preferred target being a retail bank with a solid client base and without major refinancing needs, says Laszlo Wolf, deputy CEO of the group, in charge of acquisitions.
"We are interested in a bank without big refinancing needs, and a stable deposit base. Today we are more interested in a client base, than in an extensive territorial network, because it would also generate significant fixed operating costs. A solid client base, on the other hand, is revenue-generating," Wolf told ZF in an interview.
According to market sources, OTP is discussing with Ilie Carabulea the takeover of a controlling stake in Carpatica, a small to medium-sized bank. Information flowing around the market suggests four other banks are in talks to change owner, among which Credit Europe Bank, held by Turkish businessman Husnu Ozyvegin, MKB Romexterra, a member of German group Bayern LB, Millennium Bank, local subsidiary of the biggest Portuguese financial group, and RBS Bank, for which its British shareholder unsuccessfully sought a buyer last year, as well, and eventually suspended the sale process because of the failure to find an acceptable offer.
OTP Bank, the biggest Hungarian financial group, is looking to strengthen its presence on regional markets, Romania included, with the preferred target being a retail bank with a solid client base and without major refinancing needs, says Laszlo Wolf, deputy CEO of the group, in charge of acquisitions.
"We are interested in a bank without big refinancing needs, and a stable deposit base. Today we are more interested in a client base, than in an extensive territorial network, because it would also generate significant fixed operating costs. A solid client base, on the other hand, is revenue
