OTP Bank has announced it will acquire Luminor Bank, a major lender in the Baltic region, in what the group describes as the largest acquisition in its history.
The deal significantly expands the Hungarian lender's geographic footprint, increasing its presence to 14 countries and boosting its total balance sheet by more than 10%.
5% in early trading on the Budapest Stock Exchange and leading a broader rally in Hungarian equities.
The move also deepens OTP’s operations within the eurozone, marking a strategic shift toward greater integration in Western European markets.
The acquisition follows a period of strong market performance for OTP, which recently launched a €7 billion bond program on the Hong Kong Stock Exchange—the first such facility established by an EU-based bank in the city.
This capital market activity underscores the lender’s growing access to international funding and its ambition to finance expansion through diverse channels.
The announcement comes as OTP shares have already shown resilience, climbing 1.5% in early trading on the Budapest Stock Exchange and leading a broader rally in Hungarian equities.