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”.
On Monday, December 23, Romanian police brought Nica Robert Florin back to the country. The man convicted of possession of high-risk drugs, bodily harm, and driving under the influence of alcohol, is listed among Romania’s Most Wanted category and was also wanted internationally. Romanian authorities revealed at the beginning of October that they had indications […]
An investigation by the famous British newspaper Financial Times revealed that the campaign of former Romanian presidential candidate Călin Georgescu was supported by a Russian network also used during the pandemic in France and Germany to instill fear of vaccines. The newspaper’s investigation began in continuation of those by Bulgarian and Romanian journalists at BG...
Bucharest’s District 3 City Hall will once again organize a special New Year’s Eve event in Titan Park, with a program of live concerts, multimedia shows, and even a simulation of the Northern Lights. The event, set to begin at 8:00 PM on December 31, will focus on the theme of infinity. “If you missed […]
Traffic on Lot 1 of the A7 Ploiești-Buzău highway, stretching 21 kilometers in southern Romania, was officially opened on Monday, December 23. With this opening, 102 kilometers of the total 320 kilometers of the highway are now usable. The Moldova Highway, as it has been called, is meant to connect Romania's economically underdeveloped eastern regions to […]
The Dutch technology investor Prosus NV, also the majority shareholder of Romania’s largest online retailer eMAG, is set to buy the online travel agency Despegar.com Corp, focused on Latin America, for approximately USD 1.7 billion. The purchase consideration will be funded from existing cash resources, the company said. Founded in Argentina in 1999, Despegar is one […]
The new Forestry Code, which passed the Parliament vote on December 17 and was signed into law by president Klaus Iohannis on December 20, includes provisions that protect all forests in Ilfov, the county surrounding Bucharest, making them the cornerstone of the future green belt around the capital city. Moreover, it legislates green belts nationwide, […]
