OTP Bank has reached an agreement to acquire 87.85% of Mobiasbancă, which is currently part of the Société Générale (SG) group.
Mobiasbancă is Moldova's fourth largest bank with a market share of 13.3%.
The transaction marks the continuation of OTP’s strategic expansion in Southeast Europe by acquiring SG’s interests in the region following on from the recent acquisitions of the French banking group's Albanian, Bulgarian and Serbian subsidiaries.