Hungary’s OTP Bank has signed an agreement to acquire Luminor Bank, marking its largest expansion in the Baltic region. The deal signifies a major move for OTP, strengthening its presence in Estonia, Latvia, and Lithuania. Luminor Bank is owned by Nordic banks, and this acquisition will consolidate OTP’s position as a key player in the regional banking market. Details of the financial terms were not immediately disclosed, but the transaction is subject to regulatory approvals. Analysts suggest this move could intensify competition within the Baltic banking sector, potentially benefiting customers through increased service options. The acquisition is anticipated to drive further consolidation in the Eastern European banking landscape.