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Banca Transilvania agrees with the OTP Group to acquire OTP Bank Romania for EUR 347.5 million

12 februarie 2024

OTP Bank Romania S.A. controls 2.64% of the Romanian market in terms of total net assets. It currently serves close to 420,000 retail customers and more than 22,000 Corporate / SME customers thanks to its 1,800 employees, and a network of 96 branches.It has become clear that we cannot achieve our strategic growth target without acquisitions. And there is little prospect of potential acquisitions in the foreseeable future.” said Sándor Csányi, Chairman and CEO of OTP Bank.

OTP Group signed a binding agreement with Banca Transilvania to sell its stake in OTP Bank
Romania. As a result of this agreement, OTP Group is selling the subsidiaries of OTP Bank Romania
as well which results fully exiting the Romanian market. The closing of the transaction is expected
to take place in the coming months, subject to regulatory approvals from the relevant banking and
antitrust authorities. The combined purchase price is EUR 347.5 million.

After obtaining the regulatory approvals, BT will commence the legal and operational merger with
OTP Bank Romania. The OTP Group’s brand name will temporarily remain in place to ensure a
smooth transition for customers and colleagues until the merger is completed. In the meantime,
OTP Bank Romania and its subsidiaries will continue honouring their commitments to their clients
as well as providing professional services of the highest quality level.

There are no actions required from OTP Bank Romania’s clients as a result of the transaction, as they will continue being served under same terms and conditions as per the existing one. The bank will also maintain its commitments towards the Bethlen Gabor Foundation and will continue to serve all the customers under the same terms and conditions as existing, including the multi/bilingual services, where it is necessary.

Horia Ciorcilă, Chairman of Banca Transilvania Board of Directors, declared: „For the BT Group, the
acquisition of OTP Group’s business in Romania is an opportunity to strengthen our leading position and
contribute to the consolidation of the Romanian banking market. We will continue pursuing our
ambitious plans by organic growth, but also maintaining an active role in further M&A possibilities in
financial market segments of interest. We thank the OTP Group for the business they have built in
Romania and for the pragmatic discussions concluded with a positive result. We are looking forward to
welcome OTP’s clients and employees to BT

Sándor Csányi, Chairman and CEO of OTP Bank, commented: “Our local bank has come a long way in
the 20 years we have been in Romania, and we have achieved substantial organic growth in recent
years, but it has become clear that we cannot achieve our strategic growth target without acquisitions.
And there is little prospect of potential acquisitions in the foreseeable future. I am confident that our
customers will continue to receive the high quality of service they have come to expect and will continue
to have a choice of innovative financial products. I would like to thank our Romanian colleagues and the
management of the respective companies for their dedication and hard work, which has been the basis
for the growth and high quality of service we have achieved so far

Barclays Bank Ireland PLC acted as sole financial advisor, Filip & Company as sole legal advisor,
and PwC Romania as sole financial and tax due diligence advisor to Banca Transilvania in the


OTP Bank Romania operates within the Romanian market as a universal bank. Since 2004, OTP
Bank plc., one of the fastest growing banking group in Central Eastern Europe, has been the
majority shareholder of OTP Bank Romania.

Banca Transilvania is the largest bank in Romania and South-Eastern Europe. As a universal bank,
it covers all customer segments and business lines in the financial sector. It has 20% market share
in terms of net loans, more than 4 million customers, around 10,000 employees, leading-edge
online banking solutions, and a strong branch network countrywide.

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