OTP Bank Signs Deal to Acquire Luminor Bank, Expanding Presence Across the Baltic Region

Hungary-based OTP Bank has entered into an agreement to acquire 100% of Luminor Holding, the parent company of Luminor Bank, from a consortium of private equity funds managed by Blackstone along with DNB Bank. The proposed acquisition, which remains subject to regulatory approval, represents one of OTP Bank's most significant expansion moves and marks its entry into the Baltic banking market.

Luminor Bank is among the largest financial institutions in the Baltics, serving customers across Estonia, Latvia, and Lithuania through its digital-first banking model. The bank has strengthened its market position in recent years by expanding its customer base, improving operational efficiency, and investing in modern technology infrastructure. According to OTP Bank, Luminor reported total assets of approximately €15.9 billion and generated a net profit of €158 million during 2025.

With the acquisition, OTP Bank plans to broaden its footprint in Central and Eastern Europe while adding the Baltic region to its existing network. The transaction is expected to increase the group's total assets by more than 10% and extend its operations to 14 countries. The move also raises the proportion of OTP Bank's business conducted within the eurozone, supporting its long-term regional growth strategy.

Luminor stated that the ownership change is intended to support its next phase of development as a leading pan-Baltic universal bank. The lender expects to continue focusing on digital banking capabilities, customer service improvements, and scalable technology while benefiting from OTP Bank's financial strength and regional banking expertise.

The above financial news and acquisition will be reviewed by the relevant regulatory authorities before completion. European banking supervisors, together with Baltic regulators, will evaluate the transaction as part of the approval process. Once finalized, the deal is expected to reshape the competitive landscape of the Baltic banking sector while strengthening OTP Bank's position as one of the region's leading financial groups.