Polish financial group Getin Holding will start the rebranding process for Romanian International Bank (RIB), a local bank it acquired at the end of last year, which will be named Idea Bank.

The bank will also move to a new office building in Pipera, where it leased 3,500 sqm, according to a release.

Getin Holding leased two floors of the Hermes Business Center, an office building located on the Dimitrie Pompeiu boulevard in Bucharest, just across the street from the Pipera subway station. This will host over 300 employees of the bank but also of its loan recovery division, GetBACK Recovery.

Getin Holding bought RIB at the end of last year. The bank is one of the smallest in the country, with total assets of EUR 90 million at the end of 2013 and a market share of about 0.11 percent. The bank has 34 units, 15 of which are located in Bucharest.

Getin Holding is one of the largest Polish companies listed on the Warsaw Stock Exchange. The group is 56 percent controlled by Polish businessman Laszek Czarnecki. It is active in Poland and Eastern Europe through its Getin Bank and Idea Bank brands.

The new headquarter of Getin Holding’s Romanian subsidiary will be in Hermes Business Center, a new office building which was finalized in April 2014. The building is owned by Belgian real estate developer Atenor Group. The 18,000 sqm building also hosts the Netherlands’ Embassy and Xerox and is 85 percent occupied.

Real estate consultancy firm Colliers managed the leasing process.

Andrei Chirileasa, andrei@romania-insider.com