Hungarian financial group purchases controlling stake of Moldovan bank for about 1.5 billion lei

Chisinau, 23 July /MOLDPRES/ - The Hungarian group OTP Bank on 22 July brought, through Moldova’s Stock Exchange, the controlling stake of 96.69 per cent of the shares of Mobiasbanca Groupe Societe Generale at a price of 1 billion 475 million lei. 

According to Moldova’s Stock Exchange (BVM), the taking over of the Chisinau-based bank was made by two transactions, with a price for one share worth 152.57 lei. OTP Bank purchased the package of 76.69 per cent of the shares of the Moldovan bank with foreign capital from Societe Generale (France) and 20 per cent – from BRD Groupe Societe Generale of Romania.  

The executive committee of the National Bank of Moldova (BNM) on 11 July 2019 approved the procurement by OTP Bank Nyrt of the controlling stake of shares of the registered share capital of the Commercial Bank Mobiasbanca – Groupe Societe Generale stock company and informs that the acquisition of the controlling stake will be carried out within the achievement of the strategic goal of the Hungarian bank: to set up the biggest and the most successful banking group from the Central and Eastern Europe.

OTP Bank of Hungary is the biggest banking institution from this country and the third one from the Central and Eastern Europe, with an experience of almost 30 years in the banking sector and which is working in nine European states.