“The two local investors have solid experience in the fintech area and I have confidence together we will transform Banca Feroviara into a modern and innovative bank, capable of serving local businesses,” said Blidar.
Balas said acquiring the majority stake in the bank is a strategic decision aiming to introduce a portfolio of digital solutions for Romanian SMEs. Balas’ New Business Dimensions provides business intelligence solutions to financial institutions in Romania.
Banca Feroviara’s other shareholders are Tristar SRL with 23% and Atelierele CFR Grivita with 9.5%.
The deal was approved by the central bank.
Banca Feroviara was launched in 2009 by Blidar. At the end of 2019, it had assets of RON463 million and a market share of 0.09%, down from 0.12% in 2018.