BUCHAREST, March 15 (Reuters) - Romania’s central bank said on Thursday it has rejected Hungary’s OTP Bank’s acquisition of Banca Romaneasca without elaborating.
OTP Bank signed an agreement in July with National Bank of Greece to purchase Banca Romaneasca. The transaction, which was pending regulatory approval from the central bank, was expected to close later this year and boost OTP’s Romanian market share to about 4 percent.
In February, OTP Group Chief Executive Sandor Csanyi said the bank had bad feelings about the outcome of the pending approval.
The central bank’s decision can be challenged. (Reporting by Luiza Ilie)
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