By Emea Riga
Banca Transilvania will acquire the shares held by the Polish group Getin Holding from Idea :: Bank, Idea :: Leasing and Idea :: Insurance Broker. The acquisition agreement was signed, and until the approval of the NBR and the Competition Council, the IDEA entities will carry out their activity independently. The value of the transaction is 213 million lei (43 million euros).
Romanian companies that are under the IDEA brand mean 2.85 billion lei total assets, over 60,000 customers, 530 employees and 46 units, at the end of last year.
Getin Holding Group is listed on the Warsaw Stock Exchange and has activities in retail banking, leasing, financial intermediation, factoring and consulting in Poland, Ukraine and Romania.
“We see the acquisition of Idea :: Bank as a new opportunity for Banca Transilvania and for its customers. If the other acquisitions were to strengthen BT’s business, it is part of its strategy to continue launching online banking initiatives. Idea :: Bank, as part of Banca Transilvania Financial Group, will be a digital banking hub through which we will launch and develop creative ideas for digital solutions for current and future customers. We thank for the trust and collaboration the top management of Getin Holding Group and all those who contributed to the success of this transaction “- says Horia Ciorcilă, Chairman, Board of Directors, Banca Transilvania.
“We are proud of what our companies have achieved in Romania. As a foreign investor, Geting Holding is very happy to have contributed to the development of the Romanian economy. As part of our philosophy, seeing our mission accomplished, we are happy that Romania’s assets will be part of Banca Transilvania Financial Group, the largest and most dynamic player on the market “- says Piotr Kaczmarek, General Manager, Getin Holding.
In this transaction, Barclays Bank Ireland PLC, Filip & Company, EY and Linklaters are the consultants of Banca Transilvania, and Rothshild & Co., Sayenko Kharenko and Nestor Nestor Diculescu Kingston Petersen, of Geting Holding.
Banca Transilvania made its first acquisition in 2015, Volksbank Romania, which meant the largest transaction on the Romanian banking market. In 2018, the bank bought Bancpost, ERB Retail Services and ERB Leasing. These acquisitions completed the strategy of increasing and consolidating the BT market share, leading – together with the organic growth – to the ascent of the bank on the first place in the Romanian banking system.
Banca Transilvania today means 3.2 million customers, over 9,000 employees, 500 branches, but also the largest financial group in South-Eastern Europe.
By Emea Riga