UniCredit announced that it finalized the merger of its Romanian subsidiary with Alpha Bank Romania, creating one of the largest financial institutions in the country and marking a new milestone in the group’s growth strategy. The newly combined bank has 11% market share in assets, 13% in loans (UniCredit Consumer Financing), and 11% in deposits from customers, according to data released by the company.
The transaction, completed in just nine months, brings UniCredit Bank Romania’s network to around 300 branches and 900 ATMs nationwide, supported by more than 4,800 employees, including those from Alpha Bank.
Andrea Orcel, CEO of UniCredit, stated: “This acquisition and merger of Alpha Bank Romania enables UniCredit to strengthen its market position and unlock new potential for accelerated, profitable growth, both for us and for our customers. Alpha’s long-standing presence in Romania, which continues via its maintaining a 9.9% stake in UniCredit Bank Romania, reinforces our strategic role in Eastern Europe, a region in continuous development.”
“By completing the merger, we become a stronger bank and better positioned for the future,” said Mihaela Lupu, CEO of UniCredit Bank Romania.
UniCredit S.p.A. acquired 90.1% of Alpha Bank Romania from Alpha International Holdings, a fully owned subsidiary of Alpha Services and Holdings S.A., in a transaction valued at EUR 255 million in cash plus a 9.9% shareholding in UniCredit Romania.
irina.marica@romania-insider.com
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