Intesa Sanpaolo SpA has concluded negotiations for the acquisition of First Bank in Romania from the American investment fund J.C. Flowers, according to market sources. Some of First Bank’s employees have already been informed about this transaction through an internal communication. Marco Elio Rottigni, Head of the International Subsidiary Banks Division at Intesa Sanpaolo, stated, “We welcome First Bank’s employees and customers to the Intesa Sanpaolo Group. This operation doubles our presence in Romania, a country with significant economic growth and strong ties to Italy, aligning with our strategy to leverage value opportunities while maintaining a focus on organic growth and profitability stimulation. The expansion into Romania reinforces our position as a strong bank in Central and Eastern Europe and actively supports the internationalization of Italian companies. We look forward to soon collaborating with our new colleagues.” The transaction is subject to approval from relevant regulatory and competition authorities and is expected to be completed in the first half of 2024. As of December 2022, Intesa Sanpaolo is Italy’s largest bank with assets totaling €975 billion. Intesa Sanpaolo Bank is the subsidiary of the Intesa Sanpaolo Group in Romania. Initial reports regarding a potential deal had emerged earlier in the summer. Following the acquisition of First Bank, Intesa could potentially secure a position in the top 10 banks in Romania based on assets. This month, PKO Bank Polski, Poland’s largest bank in terms of assets, announced its intention to enter the Romanian market, where it will commence operations in 2024.
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
A large majority of Romanians, namely 85%, have heard of celebrated composer George Enescu, according to the third edition of the Informat.ro – INSCOP Research Barometer conducted earlier this month. However, the survey shows a slight decline in cultural awareness compared to 2013, particularly among younger generations. The
The volume of trade between Romania and China was almost USD 9.3 billion in 2024, according to official statistics. Trade between the two, however, is not balanced. Romania registered a USD 7.7 billion deficit with China, and a USD 2.1 billion deficit in the first quarter of 2025 as well. The People’s Republic of China […]
