Hungarian OTP acquires 96.69 per cent of Mobiasbanca Groupe Societe Generale

Hungarian banking group OTP purchased 96.69 per cent of the shares of Moldovan bank Mobiasbanca Groupe Societe Generale, consolidating its role of the biggest and most successful banking group from Central and Eastern Europe.

According to Moldova’s Stock Exchange, OTP acquired the bank through a number of transactions, first buying the shares with foreign capital from French group Societe Generale, and then the remaining percentage from BRD Groupe Societe Generale of Romania, for a total investment of almost 74.7 million lei.

Mobiasbanca posted a 301.1 million lei (15.4 million euros) profit in 2018, ranking third in terms of profit among local lenders. The deal has been approved by Moldova’s national bank.