Banca Transilvania (BVB ticker: TLV), the biggest financial group in Romania by assets, has finalized the acquisition of Idea::Bank, Idea::Leasing and Idea::Insurance Broker from the Polish group Getin Holdings.

The Romanian group signed the purchase agreement in June this year and has received the necessary authorizations to complete the transaction from Romania’s National Bank (BNR) and the Competition Council.

Banca Transilvania says that Idea::Bank will become a digital banking hub, beyond the scope of traditional commercial banks. All the three entities known under the Idea brand will have new corporate identities.

Idea::Bank is the third bank purchased by Banca Transilvania, after Bancpost (2018) and Volksbank Romania (2015).

Banca Transilvania’s consultants in this transaction were Barclays Bank Ireland, Filip&Company, EY and Linklaters.

(Photo: Patryk Kosmider/ Dreamstime)

andrei@romania-insider.com