Banca Transilvania will acquire Idea::Bank and the other companies with the IDEA brand in Romania
Banca Transilvania will acquire the shares held by the Polish group Getin Holding Group in Idea::Bank, Idea::Leasing and Idea::Insurance Broker. The sale agreement was signed and until receiving the approval of the National Bank of Romania, the Financial Supervisory Authority and of the Competition Council, the IDEA entities will carry out their activity independently. The combined purchase price is 43 million Euro.
The Romanian companies that are under the IDEA brand mean RON 2.85 billion in total assets, over 60,000 customers, 530 employees and 46 units, as at the end of last year.
The Getin Holding Group is active in retail banking, leasing, brokerage services, factoring and consulting in Poland, Ukraine and Romania – and is listed on the Warsaw Stock Exchange.
“We see the acquisition of Idea::Bank as a new opportunity for Banca Transilvania and for the customers. If the prior acquisitions were aimed to strengthen the BT’s business, this acquisition is part of Banca Transilvania Financial Group’s 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 and digital solutions for current and future customers. We want to thank for the trust and collaboration to the top management of Getin Holding Group Group and to everybody that has contributed to the success of this transaction,” says Horia Ciorcilă, Chairman of Banca Transilvania Board of Directors.
Barclays Bank Ireland PLC, Filip & Company, EY and Linklaters are the consultants of Banca Transilvania in this transaction and Rothshild & Co., Sayenko Kharenko and Nestor Nestor Diculescu Kingston Petersen have advised Geting Holding.
Banca Transilvania made its first acquisition back in 2015, when it acquired Volksbank Romania through the largest transaction on the Romanian banking market at that moment. In 2018, the bank acquired 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 bank becoming the largest bank from the Romanian banking system.
Banca Transilvania means today over 3.2 million customers, over 9,000 employees, 500 units, but also the largest financial group in South-Eastern Europe.