“As a result of the decision to integrate these services with Volksbank, this company has not been developing any operations for over two years, currently being under liquidation,” the bank’s representatives told ZF.
The dissolution started July 28 and all the company’s assets will be distributed to the sole stockholder.
On Monday, Romanian lender Banca Transilvania (TLV.RO) has received central bank approval to merge and absorb Volksbank Romania on December 31, 2015.
The deal was at EUR711 million, EUR81 million of which for the bank’s capital while the rest of EUR630 million for reimbursements.
Banca Transilvania posted a net profit of RON190.2 million in the first half of the year, up 5.1% compared to the same period in 2014, and its assets rose 8.4%, to RON38.6 billion.
(English version by Manuela Panescu)