Vista Bank completes takeover of Credit Agricole Romania
Vista Bank completed, on September 16, the acquisition of 100% shares in Crédit Agricole Romania, after obtaining all the necessary approvals from the National Bank of Romania (BNR) and the Competition Council, the bank announced.
The integration of the two entities is beginning, and it is expected to last until next year. Vista Bank and Crédit Agricole Romania will operate independently during this interim period, and Crédit Agricole Romania customers will continue to contact Crédit Agricole Romania for all their banking services, News.ro reported.
Following the merger, Vista Bank will hold total assets of more than EUR 1.4 bln (1.2% of the banking system’s assets), loans of EUR 800 mln (1.3% of the total non-government loans), deposits of EUR 1.2 bln (nearly 1.4% of the stock of bank deposits), and more than EUR 105 mln of CET1 capital.
Vista Bank has been active in the Romanian banking market since 1998, has a network of 31 branches and 320 employees and offers a complete range of products and services to local and international customers.
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