OTP looks for banks with a wide client base and without refinancing needs

OTP Bank, the biggest Hungarian financial group, is looking to strengthen its presence on regional markets, Romania included, with the preferred target being a retail bank with a solid client base and without major refinancing needs, says Laszlo Wolf, deputy CEO of the group, in charge of acquisitions.

"We are interested in a bank without big refinancing needs, and a stable deposit base. Today we are more interested in a client base, than in an extensive territorial network, because it would also generate significant fixed operating costs. A solid client base, on the other hand, is revenue-generating," Wolf told ZF in an interview.

According to market sources, OTP is discussing with Ilie Carabulea the takeover of a controlling stake in Carpatica, a small to medium-sized bank. Information flowing around the market suggests four other banks are in talks to change owner, among which Credit Europe Bank, held by Turkish businessman Husnu Ozyvegin, MKB Romexterra, a member of German group Bayern LB, Millennium Bank, local subsidiary of the biggest Portuguese financial group, and RBS Bank, for which its British shareholder unsuccessfully sought a buyer last year, as well, and eventually suspended the sale process because of the failure to find an acceptable offer.