OTP BANK REDEEMS 96.69% MOBIASBANCA SHARES

The Hungarian OTP Group bought 96.96% shares of Mobiasbanca from the financial group Societe Generale (France), according to the agency, the transaction on selling 9,669,155 shares of Mobiasbanca was registered at the Moldovan regulated market on Monday.

The Mobiasbanca shares with nominal value were sold at the price of 152.57 lei per each share. The deal was conducted by means of two transactions, as a result of which the Groupe Societe Generale sold its asset in Moldova for 1.47 billion lei (74.7 million lei).

The Mobiasbanca’s equity multiplier accounted for 0.86, which is much higher than at selling the shares of two systemic banks of Moldova – the Moldova Agroindbank (MAIB) and the Moldindconbank, despite the fact that their market shares exceed the Mobiasbanca’s.

The remaining small holders of Mobiasbanca shares, who own less than 4% of the stock, according to the Moldovan legislation will soon receive a tender proposal on buying their papers from the OTP Group.

Before, the outgoing President of Mobiasbanca Antoine Gabizon stated that the Hungarian OTP Group is a large European player, which responds to world standards in the field of management and has everything necessary to raise the Mobiasbanca OTP Grup to a new level.

“The OTP Group is a very solid and profitable group. This is perhaps one of the most profitable groups in the financial sector of this region. It is growing very quickly organically and due to new acquisitions, including the one bought from the Societe Generale. This is a group that focuses on this region. It will be present in 11 countries of Central and Eastern Europe. A fresh view of the OTP Group and its high ambitions, as well as a solid presence of the Mobiasbanca on the Moldovan market will most positively affect the servicing of bank clients, who will be receiving quality services”, the banker said.

Infotag’s dossier: The Mobiasbanca credit portfolio in 2018 grew more than 11%, while the bank’s market share – to 15.2% from 14.5%. The net profit approached 300 million lei. The return on equity (ROE) accounted for 19%. The bank capital reached 1.77 billion lei as of June 30, 2019.

The OTP Group is a Hungarian bank group, which is working in the spheres of financial, insurance, investment and banking business. The group is regarded as one of the main suppliers of financial services in the Central and Eastern Europe.

Over 13 million physical persons and corporations are using the services of the OTP Group. Its bank products are available in 1400 offices and 3900 ATMs, as well as online in nine countries of the Central and Eastern Europe. The group personnel accounts for over 41 thousand employees. The group is based on the OTP Bank – the largest bank of Hungary, which is holding 25.6% of the country market. The bank is ranking the 952nd in the list of world’s largest public companies in 2018 with revenues of US$51 billion (586th) and market capitalization of US$10.9 billion.