The merger will result into a company with more than 25,000 customers, a portfolio of EUR500 million and almost 250 employees, lender Banca Transilvania said in a statement.
In this context, the companies announce their customers that the current ongoing contract conditions remain unchanged, the license plates will be kept until the end of the period stipulated in the contract and the voluntary insurance remain unchanged in terms of insurance conditions and premiums.
The acquisition of Tiriac Leasing by Banca Transilvania Financial Group took place in June 2022 and since then – being the integration period – BT Leasing and Tiriac Leasing have been operating separately, until the merger.
BT Leasing has assets worth RON1.366 billion. In 2018, BT Leasing merged with ERB Leasing which was acquired by Banca Transilvania Group from Greece’s Eurobank Group. In 2021, another company in the sector, Idea::Leasing, joined the BT Group.
In January 2022, Banca Transilvania, the largest bank in Romania, signed an agreement with Tiriac Group to acquire Tiriac Leasing with assets worth EUR213 million (almost RON1 billion).