According to unconfirmed information OTP Bank could announce this Wednesday the takeover of Millenium BCP’s operations in Romania. Possible transaction would have great importance for the Romanian banking sector.
Romanian subsidiary of Millenium BCP was at a loss EUR 24 million in 2012, this year the losses were cut to EUR 5,9 million. The sale was agreed with the European Commission with the deadline set up for June 2015. Millenium BCP has been trying to sell its Romanian subsidiary for a year.Tags: Millennium Bank, OTP Bank, takeover