Hungary’s OTP Bank has signed an agreement to acquire the Baltic banking group, Luminor Bank, from US-based private equity fund manager Blackstone and Norway’s DNB Bank, Baltic News reports. OTP Bank had already expressed interest in acquiring Luminor several years ago, LETA reported. Luminor is the third-largest provider of financial services in the Baltic States. The bank is based in Estonia, with branches in Latvia and Lithuania. The acquisition remains subject to regulatory approval. Péter Csányi, CEO of OTP Bank, said that the acquisition represents a “strategic entry” into the Baltic region. The deal will increase OTP Group’s total assets by around 13% from over EUR 130bn in 2025. Following the acquisition, the group will have a presence in 14 countries in Central and Eastern Europe. OTP Bank has continued operations in Russia, where it has 2 million clients and 800 locations, LSM and LRT report. The bank increased both its assets and lending in Russia in 2025, ERR reported.
Headlines