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Romania's central bank opposes OTP Bank's acquisition of Banca Românească

The Romanian central bank, or Banca Nationala a României, said March 15 that it is opposed to OTP Bank România SA's acquisition of Banca Româneasca SA, confirming a report the previous day by Romanian news outlet Business Review.

OTP Bank România, a unit of Hungary's OTP Bank Nyrt., agreed to buy Banca Româneasca from National Bank of Greece SA in July 2017. The central bank did not explain why it had opposed the takeover, but said in a statement that information obtained in the course of its oversight of credit institutions is treated in line with confidentiality requirements.

The approval by the central bank was the next hurdle for the takeover after Romania's antitrust body gave it a green light in December 2017, Business Review noted.