OTP Bank has signed an agreement with a consortium of private equity funds led by Blackstone and DNB Bank to acquire Luminor.
Subject to the necessary regulatory approvals, the acquisition will expand the OTP Group’s presence to 14 countries. The transaction is expected to increase the Group’s total assets by approximately 13%, while the share of eurozone operations in its net loan portfolio will rise from 42% to 50%.
Luminor is the third-largest financial services provider in the Baltic States, serving both retail and corporate customers. In 2025, the bank generated a net profit of EUR 158 million and achieved a return on equity of 8.6%. In recent years, Luminor has strengthened its business model, expanded its customer base, and enhanced its digital capabilities. These efforts have reinforced its position across the Baltic region, including Estonia, Latvia, and Lithuania.
The OTP Group is one of the leading banking groups in Central and Eastern Europe, currently serving 17.5 million customers in 11 countries. Since 2001, it has successfully completed 25 bank acquisitions. The Group’s total assets exceed EUR 130 billion.
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