PwC Romania’s transaction specialist team provided due diligence services to Banca Transilvania, the largest bank in Romania, during the transaction through which it acquired the Romanian enterprises of the Hungarian OTP group, namely OTP Bank, OTP Leasing, OTP Asset Management, OTP Factoring and other subsidiaries objects

“We are pleased to have assisted Banca Transilvania in this important transaction both for the bank, which is consolidating its first position in the market, and for the Romanian banking sector. I would like to thank the entire team that worked together with the BT team and their legal advisors to sign this agreement,” said Cornelia Bumbeca, Partner at PwC Romania.

PwC experts in Romania provided financial, fiscal and human resources due diligence services and support in the negotiation of the deal.

“In general, mergers and acquisitions in the banking sector are driven by a combination of strategic, financial and market factors to create stronger and more competitive institutions that are better positioned for long-term success. Acquisitions also facilitate access to talent and specialized expertise, creating synergies that enhance customer value and long-term competitiveness in the face of changing industry dynamics. With this transaction, the financial and banking sector in Romania continues the consolidation process it has undergone for several years, driven by regulatory pressure, digitization, competition and the need to optimize costs, increase market share and profit margins,” said Ana-Maria Butucaru, partner of PwC in Romania.

The agreement is subject to regulatory approval.

“We thank Transilvania Bank for the trust placed in us, which confirms the experience of PwC specialists in accompanying transactions in highly regulated sectors such as banking”, said Andrea Mitirice, partner of PwC in Romania.

The team of consultants specializing in transactions was formed by Cornelia Bumbacea, partner, and Laura Paraskiv, senior manager. Financial due diligence services were coordinated by Ana-Maria Butukaru, Partner, together with Catalina Gocea, Senior Manager and Oana Stoia, Senior Manager, and tax and HR support services were provided by a team coordinated by Andrea Mitiritse, Partner and comprised of: from Ramona Kurty, senior manager, Monika Ardelean, senior manager, Bohdan Karpe-veke, director and Gabriela Batyr, senior manager.

Banca Transilvania is the largest bank in Southeast Europe. As a universal bank, it covers all segments and business areas of the financial sphere. It has 20% of the market, more than 4 million customers, approximately 10,000 employees, state-of-the-art online banking solutions and a strong network of agencies across the country.

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Article supported by PwC Romania