Banca Transilvania S.A. (BVB:TLV) signed a sale and purchase agreement to acquire OTP Bank Romania S.A. from OTP Bank Nyrt. (BUSE:OTP) for ?350 million on February 8, 2024. As a result of the transaction, at the time of the closing of the deal the consolidated capital adequacy ratio is expected to improve by 52 bps.

Banca Transilvania board approved the deal. The transaction is subject to Romania competition authority. The financial closing of the transaction is expected in 2024 subject to the necessary regulatory approvals.

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 transaction.