The merger with Bancpost enables Banca Transilvania to reach 3 million customers and Banca Transilvania Financial Group to reach 10,000 employees.
Established nearly 25 years ago, Banca Transilvania has given loans to some 75,000 companies over the last ten years, has paid over RON3.7 billion in taxes to the state budget and has invested over RON1.1 billion in developing its activity.
Banca Transilvania started integrating Bancpost operations in April 2018, once the acquisition was cleared by the Romanian antitrust body and the Romanian central bank.
End-November 2017, Banca Transilvania signed an agreement to acquire the majority holding of 99.15% owned by Eurobank Group in the capital of Bancpost S.A. as well as the acquisition of holdings in the capital of the Romanian companies which are part of the Eurobank Group, namely ERB Retail Services IFN SA and ERB Leasing IFN SA.
The total value of transaction reaches EUR226 million, of which nearly EUR179 million for Bancpost only, complemented by Banca Transilvania’s taking over a subordinated loan worth EUR80 million for Bancpost. End-June 2018, Banca Transilvania carried out a process whereby it also acquired the remaining stake of 0.85% in Bancpost.
End-2017, Banca Transilvania ranked second in the Romanian banking system, with assets of RON59.3 billion, translating into a 13.8% market share, up 13.15% year-on-year. End-2017, Bancpost ranked ninth in the Romanian banking system, with assets of RON10.92 billion, translating into a 2.55% market share, lower than 2.96% a year ago.