Banca Transilvania announces that it has completed the acquisition of the entire package of shares held by the Poles in the share capital of Idea Bank, as well as of the participations in the share capital of Idea Leasing IFN SA and Idea Insurance Broker.
The institution signed the takeover agreement in June, in a transaction of 213 million lei (43 million euros), and recently received the necessary approvals to complete the transaction from the National Bank of Romania and the Competition Council.
“We are happy to bring to the ecosystem of Banca Transilvania, together with the capabilities of BT, a new entity that has the technology in its DNA. We are confident that through what we set out to do we are pioneers on the Romanian banking market, for customers increasingly oriented towards online banking “, says Horia Ciorcilă, President, Board of Directors, Banca Transilvania.
According to BT, the current Idea :: Bank will become a digital banking hub, going beyond the sphere of traditional banks, and all three entities currently known under the Idea brand will have new corporate identities.
“The positive impact on the economy and society of the acquisition of Idea :: Bank is the contribution to the consolidation of the banking industry and the repositioning of the bank as a digital platform, with an ESG agenda on all levels”, say the bank’s representatives.
Banca Transilvania’s omni-channel ecosystem integrates the advantages of the traditional branch with online banking. So far, 67% of all customers – 2.3 million – are digitized, currently using at least one of the bank’s digital solutions – applications, Internet Banking or Mobile Banking.
Idea :: Bank is the third bank acquired by Banca Transilvania, after Bancpost (2018) and Volksbank Romania (2015).
The consultants of Banca Transilvania in this transaction were: Barclays Bank Ireland PLC, Filip & Company, EY and Linklaters.
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