OTP Bank completes takeover of Societe Generale’s Moldavian subsidiary

OTP Bank announces that the financial closure of the Moldavian transaction has been completed. As a result, OTP Bank has become 96.69% owner of Mobiasbanca – Groupe Societe Generale S.A. („MBSG”), the Moldavian subsidiary of Societe Generale Group.

With a market share of 13.8%, MBSG is the 4th largest bank on the Moldavian banking market and as a universal bank it has been active in the retail and corporate segment as well.

With the acquisition of the Moldavian bank, OTP Group is already present in 11 countries in the Central and Eastern European region.