The merger is expected to be carried out by transferring the total assets and liabilities of the bank in Romania, which will dissolve without entering into liquidation, to Credit Europe Bank N.V.
Should the shareholders approve the operation, regulatory bodies, such as Romania’s central bank, are also expected to give their consent.
Credit Europe Bank Romania, a member of Dutch financial group Credit Europe Bank N.V., has been present on the local market since 1993, when it used to operate under the name of Banca de Credit Industrial si Comercial. In 2000, it became Finansbank and in 2007 it was named Credit Europe Bank Romania following a rebranding process.
In Romania, Credit Erope Bank has some 500,000 individual clients, small- and medium-sized enterprises (SMEs) and corporations, a network of 22 branches and agencies, alongside workpoints, as well as alternative distribution channels: 53 ATMs, more than 8,100 points of sale (POSs), Internet Banking and Phone Banking services, alternative payment services such as sticker, bracelet, Apple Pay and Google Pay., as per information published on the bank’s website.
Since December 2016, the bank’s share capital stands at RON557,60 million and its shareholding structure includes Credit Europe Bank N.V. (an ownership stake of 99.36893%) and other shareholders (0.63107%).
Credit Europe Bank N.V. (CEB) is headquartered in The Netherlands (Amsterdam) and has some 1,100 employees across seven countries, serving more than 850,000 retail and corporate clients.
In June 2023, CEB N.V. had an exposure of EUR1.02 billion on Romania, of which EUR793 million balance sheet exposure, of which EUR580 million loans. The figures are lower compared to the end of 2022, when the exposure to Romania was EUR1.15 billion, of which EUR929 million were balance sheet exposure, of which EUR632 million were loans. The exposure to Romania represents approximately one fifth of CEV N.V.’s total risk exposure.