At the date of this deal, Tiriac Leasing has EUR213 million assets, financing more than 37,000 customers over the years.
Pending approval, Tiriac Leasing will operate independently from Banca Transilvania Financial Group and will be integrated into it later.
With this transaction, BT aims both to get directly involved in a niche business model that makes a difference in the automotive market and to strengthen its position with alternative financing services.
Tiriac Leasing has been in business for over 20 years, during which time it developed a diversified portfolio of leasing products, with a significant and recognized specialization in the automotive sector, which will generate a significant contribution for Banca Transilvania Financial Group.
Banca Transilvania Financial Group’s leasing company, BT Leasing (BTL), too, has been in business for over 20 years, has more than 10,000 customers, concluded over 20,000 contracts and in 2018 it merged with ERB Leasing. BTL has RON1,366 million assets. In 2021, another company in the sector joined the BT Group, Idea::Leasing.
The consultants in the Tiriac Leasing – Banca Transilvania deal were PwC, D&B DAVID and BAIAS S.C.A. – for Banca Transilvania, and Filip & Company for the Tiriac Group.
Banca Transilvania made its first acquisition in 2015, Volksbank Romania, followed in 2018 by Bancpost, ERB Retail Services and ERB Leasing, and by Idea::Bank, Idea::Leasing and Idea::Insurance Broker in 2021.
(English version by Loredana Fratila-Cristescu)