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.
A growing number of Romanian employees are facing emotional difficulties, with 63.6% reporting they are currently going through a challenging period, according to the latest survey conducted by the online recruitment platform eJobs. The leading cause, cited by 22.2% of respondents, is insufficient income to cover their daily expenses. Other factors include personal problems (14.5%) […]
Romania carried out a medical evacuation mission to assist Palestinian civilians from the Gaza Strip, continuing its humanitarian support amid the ongoing crisis. A C-27J Spartan aircraft operated by the Romanian Air Force transported 12 severely ill Palestinian patients, along with 21 accompanying family members, to Romania for medical care. The aircraft departed from Otopeni […]
Bucharest mayor and independent presidential candidate Nicușor Dan is ahead of George Simion, the leader of far-right party AUR, in voting intentions, according to a poll presented on Thursday, May 15, by the independent public opinion polling institute IRSOP. This is the first time that the former takes the lead in the race for president. […]
Romanian retail chain La Cocoş recorded a turnover of RON 1.18 billion (EUR 237 million) in 2024, marking a 20.7% y/y increase and becoming the first domestically owned retailer to exceed the RON 1 billion benchmark, according to Ziarul Financiar. Founded in 2014 by entrepreneur Iulian Nica, La Cocoş...
Even though Romania's currency, RON (leu), has depreciated relatively steeply in the past weeks, compared to historic low volatility, ING Romania maintains its exchange rate forecast for this year and argues that the national currency could recover from recent losses. "However, it is important to look at the bigger picture: financial markets can often have […]
Romania's industrial production index contracted by 4.2% y/y in Q1 and neared the lowest level in the past three years, according to the statistics office INS. The seasonal and workday-adjusted index (-0.4% q/q) has followed a visible downward trend after the post-Covid recovery in 2021 and 2022. The seasonal and workday-adjusted index in Q1 was […]
