Intesa Sanpaolo has successfully completed the acquisition of the Romanian group First Bank S.A. (Romania) from the US-based private investment fund J.C. Flowers & Co. Following the signing, on October 28, 2023, by Intesa Sanpaolo S.p.A. and JCF Tiger Holdings S.A.R.L., the majority shareholder of First Bank S.A., of a sale-purchase agreement for the acquisition of 99.980513% of the shares of First Bank S.A. and after obtaining all necessary approvals from all relevant regulatory authorities, Intesa Sanpaolo has today completed the acquisition of First Bank. The acquisition of First Bank allows Intesa Sanpaolo to double its presence in Romania, a country in which it has been active since 1996 through Intesa Sanpaolo Bank Romania. The acquisition significantly strengthens the competitive positioning of the Intesa Sanpaolo Group on the local market, including it in the top 10 banks in Romania. Together, Intesa Sanpaolo Bank Romania and First Bank total assets of approximately 3.2 billion euros, serve approximately 143,000 customers and have over 1,500 employees. The two banks – First Bank and Intesa Sanpaolo Bank Romania – are now part of the Group’s International Subsidiary Banks Division, a key player in the Central and Eastern Europe region, offering services to retail, corporate and SME customers. Marco Elio Rottigni, Head of the Group’s International Subsidiary Banking Division, said: “We warmly welcome First Bank employees and customers to the Intesa Sanpaolo Group, one of the largest and strongest banking groups in Europe. Consolidating our presence in Romania will stimulate Italian and foreign investments in this country, intensify trade and support the internationalization of SMEs. Our development will stimulate innovation at the economic level, for the benefit of individuals and legal entities”.
Police officers from the Hunedoara County Criminal Investigation Service have recovered a gold brooch that is believed to be a national cultural heritage artifact, the Romanian Police announced. According to the authorities, the item was stolen from Romania in...
MEDCITY, a real estate developer building exclusively for the healthcare sector, announced the start of the project for the first medical hub in the western Romanian city of Timișoara. The company plans to transform a commercial property into a flagship healthcare ecosystem. The investment is valued at EUR 7 million, covering the property’s conversion and […]
Romania's prime minister Marcel Ciolacu is on a working visit to the United Kingdom and Northern Ireland on November 12-13, attending the Romania-Great Britain Economic Forum. The visit is also the first of a Romanian PM to the UK in 17 years. Marcel Ciolacu is also set to meet British counterpart Keir Starmer, the Speaker […]
Orange Romania announced the reopening of the Telephone Palace (Palatul Telefoanelor), a historical monument on Calea Victoriei avenue in Bucharest built in the 1930s for telecommunications specialists. The company's goal is to bring together its teams in Bucharest in two neighboring buildings: the Tandem central office on Matei Millo Street and the Telephone Palace. The […]
Romania’s internal intelligence service SRI has confirmed the presence of troll farms, bots, and fake accounts in the country, but states that the phenomenon does not pose a threat to national security. The statement comes after a presidential candidate was accused of running such networks to his own benefit. The service also denied any foreign […]
Goldbach Grup, a holding that brings together companies with over 13 years of experience in the development and implementation of complex projects in areas such as urban development, real estate, construction, architecture, renewable energy and consulting in the field of European funds, announces the co-optation of Cristina Nuță, a strategic leader in financial management, in […]
