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.
Romania’s women’s table tennis team secured a bronze medal at the 2026 World Championships in London, marking the country’s first podium finish at the tournament in 26 years. The Romanian team was eliminated in the semifinals by defending champions China, who won the match 3-0. The Romanian team consisted of Bernadette Szocs, Elizabeta Samara, Andreea […]
Romanian president Nicușor Dan will host the Summit of the Bucharest Nine (B9) Format and the Nordic countries this Wednesday, May 13, at the Cotroceni Palace, bringing together senior NATO, European, and Ukrainian officials for talks on regional security and defense cooperation. The summit comes amid continued concerns over Russia’s war in Ukraine and broader […]
Cambridge School of Bucharest (CSB), one of Romania’s leading international British schools, will host a dedicated Primary Open Day on Thursday, 14 May, from 16:00, inviting families interested in Years 2, 3 and 4 to discover the opportunities offered through the National Curriculum for England. Taking place on the CSB campus in Pipera, the event […]
Romania has begun drafting a national anti-poverty and social inclusion strengthening strategy, according to interim labor minister Dragoș Pîslaru. One in five Romanians lives close to the poverty line, the minister said on Thursday, May 7. Romania is the first EU member state to have initiated steps for drafting a national anti-poverty and social inclusion […]
Transilvania International Film Festival (TIFF), the largest film festival in the country, announced a partnership with the Los Angeles-based Film Independent to present Always Remember in Transilvania, a series of free screenings aiming to raise Holocaust awareness. During the 25th edition of the event, taking place from June 12 to June 21 in Cluj, two […]
Fil Rouge Capital (FRC) is actively looking at opportunities in the country, Matei Dumitrescu, Venture Partner Romania with FRC, explains. Fil Rouge recently announced a EUR 300,000 pre-seed funding for the European social media platform eYou, which launched publicly this week in Bucharest. Its local portfolio also includes OptiComm.ai, a Romanian AI startup focused on […]
