Banca Transilvania (BT) has received the necessary approvals from the National Bank of Romania (BNR) and the Competition Council (CC) for the acquisition of the entire package of shares held by Getin Holding Group in the share capital of Idea Bank SA, as well as for the stocks in the share capital of the companies from the Idea Bank Group in Romania, respectively Idea Leasing IFN SA and Idea Broker de Asigurare SRL, according to a report submitted to the Bucharest Stock Exchange (BVB).Thus, in the next period, the specific procedures for completing the transaction with Getin Holding Group will be initiated. Banca Transilvania estimates that the completion of the transaction for the acquisition of Idea Bank will take place at the end of October 2021.After the completion of the transaction, BT will become a full shareholder and Idea Bank will become part of the BT Financial Group.The bank announced on 2 June that the agreement to purchase the shares held by the Polish group Getin Holding at Idea Bank had been signed, and until receiving the approval of the BNR and the Competition Council, Idea entities will carry out their activity independently.The value of the transaction is 213 million RON (43 million EUR). The companies in Romania that are under the Idea brand mean 2.85 billion RON in total assets, over 60,000 customers, 530 employees and 46 units, at the end of last year.The Getin Holding Group is listed on the Warsaw Stock Exchange and has activity in retail banking, leasing, financial brokerage, factoring and consulting in Poland, Ukraine and Romania.
The Bucharest Community Foundation has announced funding for two new projects aimed at enhancing climate resilience in the Romanian capital by implementing sustainable ecological solutions to improve urban infrastructure and environmental quality. The projects were selected through the sixth round of the Environmental Platform for Bucharest initiative. Out of 16 eligible proposals, the jury chose […]
One of the hostages released on Saturday, February 22, by the terrorist organization Hamas also holds Romanian citizenship. The exchange took place before another setback in negotiations and exchanges. Hostages Tal Shoham and Avera Mengistu were released during a staged event in Rafah, and hostages Eliya Cohen, Omer Shem Tov, and Omer Wenkert were released […]
Polish company Scallier, who is expanding its network of Funshop Park retail parks in Romania, is set to open a new shopping center in the Arad region. The opening date for the roughly 10,000 sqm retail park is March 6. The decision to build a retail park in the Arad region in western Romania was […]
Morphosis Capital Fund II has made its first investment outside Romania by acquiring a minority stake in EnduroSat, a leading European provider of high-end satellites and space services. The investment is part of a broader funding round aimed at accelerating EnduroSat’s expansion in the fast-growing "New Space" industry. EnduroSat, founded by Raycho Raychev, specializes in […]
Approximately 11.2 million Ukrainian citizens have entered Romania during the three years of war, the Romanian Border Police reported on Monday, February 24. In total, from February 10, 2022, to February 23, 2025, a total of 11,191,703 Ukrainian citizens have entered Romania. Globally, around 7 million Ukrainian refugees reside in other countries at the moment. […]
February 24, 2025, marks three years since Russia's invasion of Ukraine. In this context, interim president Ilie Bolojan reaffirmed Romania's full commitment to Ukraine's freedom, sovereignty, and independence. In a post on X, the Romanian leader said, "As we count 3 years since Russia's full-scale invasion against Ukraine, Romania reaffirms its full commitment to UA's […]
