Hungary's OTP Bank Acquires Luminor Bank
Hungary's OTP Bank has signed an agreement to acquire Luminor Bank, one of the largest financial service providers in the Baltics. The deal will expand OTP Bank's presence to 14 countries and increase its total assets by more than 10%.
Hungary's Országos Takarék Pénztár (OTP Bank) has signed a contract to acquire Luminor Bank from a consortium of private equity funds managed by the US investment firm Blackstone and from DNB Bank. The announcement was made on Luminor Bank's website.
Following the transaction, OTP Bank will expand its operations to 14 countries and increase total assets by more than 10%. Its share of operations in the eurozone will reach 50%. The bank has committed to supporting Luminor Bank's growth based on its existing strengths and market position.
OTP Bank's CEO Péter Csányi emphasized that the acquisition is not just geographic expansion but a strategic entry into a developed and stable region with growth potential. The bank plans to strengthen its long-term presence in the Baltics and promote financial innovation.
Luminor Bank's CEO Wojciech Sass stated that both banks share a commitment to serving clients and financing local economies. He noted that Luminor Bank will now operate under an experienced international banking group.
The transaction amount was not disclosed. Regulatory approvals are still required. The Estonian supervisor, together with the European Central Bank, will assess the deal.
Luminor Bank is the third-largest financial service provider in the Baltics. In 2025, it posted a profit of €158 million and had a Common Equity Tier 1 (CET1) ratio of 20.2%. In Latvia, its branch is the fourth-largest bank by assets.
