Italy's UniCredit SpA, Austria's two top banks and Romania's largest lender are interested in buying the Romanian subsidiary of Hungarian financial group OTP in a deal estimated at EUR 300 million or more, according to Bloomberg quoting sources familiar with the deal.

Besides UniCredit, Raiffeisen Bank International AG, Erste Group Bank AG and Banca Transilvania SA are among the bidders for the lender that submitted non-binding offers, the people said, asking not to be identified because the information is private.

The transaction may also include the Hungarian bank's business in Moldova. The process is now advancing to its second round, according to Bloomberg.

OTP is currently assessing the interest of potential buyers and will decide on the future of its Romanian subsidiary, depending on the outcome. Representatives of Erste Bank, Raiffeisen and UniCredit declined to comment.

Contacted by Bloomberg, a spokesman for Banca Transilvania declined to comment on any transactions, citing regulations, but said the bank "has always been open to market opportunities."

OTP is looking to exit Romania, where it has a relatively small market share, despite years of attempts to make acquisitions. The Hungarian lender has avidly bought counterparts in the region in recent years with the aim of reaching a market-leading position in each country.

OTP Bank tried to acquire Banca Romaneasca in 2017, but the transaction was rejected by the National Bank of Romania (BNR), Profit.ro reported.

iulian@romania-insider.com

(Photo source: OTP Bank)