The merger between Intesa Sanpaolo Bank Romania and First Bank has entered its final stage and is scheduled for completion on October 31, pending all necessary legal and regulatory approvals, including from the National Bank.
According to the two institutions, First Bank will merge by absorption with Intesa Sanpaolo Bank Romania, transferring its clients, products, and services to the latter.
Once finalized, the merger will bring First Bank customers into the Intesa Sanpaolo Group – one of Europe’s largest banking networks, serving more than 21 million clients across Italy, Central and Eastern Europe, and Egypt.
Moreover, customers will gain access to an expanded network of 58 branches and over 700 ATMs and multifunctional terminals through the combined Intesa Sanpaolo Bank Romania and Euronet networks. They will also benefit from an upgraded digital banking platform and a range of new financial products.
The merger is expected to take effect on October 31, subject to registration with the Trade Register. If registration is delayed, the merger will take effect on the last day of the month in which approval is granted. The bank has pledged to communicate any schedule changes transparently.
Preparations for the transition are already underway. Since September 15, First Bank customers have been receiving new debit and credit cards issued by Intesa Sanpaolo Bank Romania. Debit cards will become active on October 31, while credit cards will be operational starting November 3. Existing First Bank cards can be used until October 30 under the same conditions and fees.
According to bank representatives, October 30 will be the last day of operations in the First Bank system. Customers are advised to complete all payments and notify employers or business partners of their new IBAN accounts before this date.
Between October 31 and November 2, a technical migration period will take place, during which branches will be closed and some services will be temporarily unavailable as data and accounts are transferred.
The integration is set to be completed on November 3, when all accounts, deposits, loans, and related products will become fully operational under Intesa Sanpaolo Bank Romania. Customers will then have full access to their funds via the new Internet and Mobile Banking platforms.
irina.marica@romania-insider.com
(Photo source: press release)
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