RO IT entrepreneur takes over small-sized bank from local “wagon king”
Valer Blidar, the owner of railway equipment producer Astra Vagoane Calatori Arad, has sold his majority stake in Banca Feroviara to Olimpiu Balas, an IT entrepreneur who owns the New Business Dimensions group, Ziarul Financiar reported.
Romania Insider · Journalist
· Updated · 1 min read
Valer Blidar, the owner of railway equipment producer Astra Vagoane Calatori Arad, has sold his majority stake in Banca Feroviara to Olimpiu Balas, an IT entrepreneur who owns the New Business Dimensions group, Ziarul Financiar reported.
"The acquisition of a stake in Banca Feroviara is a strategic decision by which we want to introduce a portfolio of digital, modern solutions to Romanian SMEs. We have digitization solutions for the bank's activities, and we trust the customers will adopt the technical solutions," said Olimpiu Balas.
He bought 63% of the bank, a stake previously held by Valer Blidar.
Blidar, known as the "king of wagons" in Romania, as his main business is related to the construction of wagons and trams, launched Banca Feroviara in 2009.
The bank's other shareholders are Tristar SRL (23%) and Atelierele CFR Grivita (9.5%).
According to official data from Romania's National Bank (BNR), Banca Feroviara is one of the smallest banks in Romania with assets of under EUR 100 mln and a market share of 0.09% at the end of 2019.
(Photo: Pixabay)
