OTP Group Enters the Baltic Markets with the Largest Acquisition in Its History

OTP Group, which also owns OTP banka in Slovenia, is entering the Baltic markets, expanding its presence to 14 countries and strengthening its position as one of the leading banking groups in Central and Eastern Europe.

OTP Group has signed an agreement to acquire Luminor, one of the leading universal banks in the Baltic region. This will be the largest acquisition in OTP Group’s history and a significant step in its continued international expansion. Following the required regulatory approvals, OTP Group will establish its presence in Estonia, Latvia, and Lithuania, expanding its operations to a total of 14 markets.

All three Baltic countries are members of the European Monetary Union, with their banking sectors being overseen by the European Central Bank (ECB). This acquisition will therefore further expand OTP Group’s business footprint within the euro area.

Luminor is one of the key financial institutions in the Baltic region, serving individuals and businesses across all three Baltic states. In recent years, the bank has significantly strengthened its business model, expanded its customer base, and accelerated its digital transformation, further consolidating its position as one of the leading regional universal banks.

For OTP Group, the acquisition represents an entry into developed and stable markets with strong long-term growth prospects. Following the acquisition, OTP Group’s total assets are expected to increase by approximately 13%, while the share of its operations within the euro area will further expand. This will reinforce OTP Group’s position as one of the leading banking groups in Central and Eastern Europe.

Péter Csányi, Chief Executive Officer of OTP Bank, commented:
"The acquisition of Luminor is not merely a geographical expansion; it represents a strategic entry into a developed, stable region with significant growth potential. As one of the leading banking groups in Central and Eastern Europe, OTP Group has demonstrated over the past decades its ability to create value in new markets. We invest capital, liquidity and technological expertise into acquired banks and apply a long-term ownership approach. Building on Luminor’s strong market position, our goal is to further strengthen the bank’s role in the Baltic states and contribute to the development of the region’s financial system, lending activity and financial innovation."

Completion of the transaction is subject to obtaining the necessary regulatory approvals.