* Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a 9.9% stake. Alpha Services and Holdings S.A., 100% parent of Alpha Bank S.A. (“Alpha Bank”), and UniCredit have agreed the key economic terms for the merger of UniCredit Bank S.A. (“UniCredit Bank Romania”) with Alpha Bank Romania S.A (“Alpha Bank Romania”), as part of a broader strategic partnership. Under the terms of the merger, Alpha Bank is expected to retain 9.9% of the combined entity’s share capital and will remain involved in the new combined entity via governance mechanisms including board level representation. Transaction completion is expected in 2024, subject to confirmatory due diligence process, corporate approvals for the merger and all necessary regulatory approvals and consents, including on anti-trust. The transaction will create the third largest bank in the local market in terms of total assets by combining two of the top ten banks in Romania. It brings together two complementary franchises, with UniCredit Bank Romania and Alpha Bank Romania having solid footholds in the corporate and retail segments, creating a major diversified financial institution that will be better positioned to serve its customers and to create new opportunities for growth within the Romanian market. For the first time in Romania, two European banking groups are joining forces in a partnership approach to consolidate the market. This new approach aims to not only support the Romanian economy but also to prioritize the needs of the customers and those communities within which they operate.
Over 23,000 nurses who trained in Romania work abroad in ten European countries, according to the Organization for Economic Cooperation and Development (OECD), at the request of Ziarul Financiar. Italy, the United Kingdom, and Belgium have been the most frequently chosen destinations in the last ten years...
Under existing legislation, Romania has pre-emptive rights only for the natural gas already extracted - and not for the natural gas that will be extracted in the future, according to clarifications provided to Ziarul Financiar by the National Administration of State Reserves and Special Issues (ANRSPS)...
Romanian minister of energy Sebastian Burduja announced a detailed report on the negative effects of the Green Deal policies on the Romanian energy sector. Quoting US president Donald Trump, Burduja said a state's democracy depends on its economy and, consequently, on its ability to produce safe, affordable, and abundant energy. "Energy that keeps factories open, […]
Romania's budgetary-structural plan was approved by the ECOFIN Council on January 21, alongside similar plans for 20 other EU member states, minister of investments and European projects Marcel Boloș announced on Facebook. Romania's budget deficit hit 8.6% of GDP in 2024, nearly three times the 3% upper limit, in the fourth year...
Otilia Bordei, Roxana Ilie and Louis Juhel, a team of three seasoned experts with over 30 years of combined experience in the real estate market, are launching TREEE, a consulting company specialized in identifying and brokering office spaces. TREEE is dedicated to supporting companies in finding sustainable office solutions, thereby contributing to achieving environmental, social […]
A total of 26,033,372 passengers transited Romanian airports last year, a 6% increase compared to 2023, according to data from the Romanian Airports Association (AAR). The number of passengers traveling to international destinations increased by 7% compared to the previous year, while the number of passengers on domestic flights decreased...
