The transaction also includes the ownerships in the companies Idea Investment, Idea Leasing and Idea Broker de Asigurare, part of Idea Bank Group in Romania.
“The antitrust watchdog undertakes to assess the economic concentration operation in terms of its compatibility with the normal competitive environment and to issue a decision under the legal deadlines,” according to representatives of the antitrust body.
Idea Bank had assets of RON2.7 billion (EUR555 million) at end-2020, holding a 0.48% market share. Its equity capital stood at RON229 million (EUR47 million) at end-2020, compared with RON326 million, and the negative difference of RON114 million represents the loss amassed throughout the time and which has not been recovered so far.
Banca Transilvania reached a market value of RON16.3 billion (EUR3.3 billion), up 26% since the beginning of 2021 and up 57% versus August 2020.
Banca Transilvania boasts two acquisitions so far, namely Volksbank and Bancpost, while the Greek Vardinogiannis family acquired Marfin Bank and Credit Agricole.
Getin Holding Group is listed on the Warsaw Stock Exchange and is engrossed in retail banking, leasing, financial brokerage, factoring and advisory services in Poland, Ukraine and Romania.