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”.
Dacia Bigster has been included in the shortlist for the title of Car of the Year 2026, running against Citroën C5 Aircross, Fiat Grande Panda, Kia EV4, Mercedes-Benz CLA, Renault 4, and Skoda Elroq. To be included in the shortlist, the seven cars had to receive the approval of 59 jurors from 23 countries. Cars […]
Timișoara-born Jecza Gallery will open Fractal Topologies of Infinity, an exhibition that brings into dialogue the works of Constantin Flondor and Mirel Vieru, at Scânteia+ at Casa Presei Libere in Bucharest. The exhibition, curated by Maria Rus Bojan, marks the opening of the gallery’s permanent space in the capital. “This inauguration marks the beginning of a […]
A song with lyrics by Radu Gyr, an interwar poet connected to the far-right and antisemitic Legionary Movement, was performed on October 30 by the “Tronos Junior” Choir in Romania’s new National Cathedral. The incident led to numerous reactions and condemnations, but was rejected by the Church. The controversial event took place on the Day […]
Bistriţa, a city in northern Romania and a former Saxon burg, has been included in the UNESCO Creative Cities Network (UCCN), in the newly-established category of Architecture. This creative field adds to the seven existing ones: Crafts and Folk Art, Design, Film, Gastronomy, Literature, Media Arts, and Music. Bistriţa is one of 58 cities that […]
Real estate developers building residential projects in Bucharest’s District 1 will now be required to contribute financially to the construction of elementary schools in areas lacking educational facilities, the district’s City Hall announced on October 31, Profit.ro...
A bipartisan group of senior members of the United States Congress is preparing legislation to block the Pentagon’s plan to downsize the American military presence in Romania and other NATO outposts along the alliance’s eastern flank,
