* 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.
The third edition of Taifas Balkan Film and Culture Festival, set to take place in Timișoara between October 13 and October 19, will include a retrospective dedicated to Romanian director Radu Jude. The public will be able to see the director's short films, in addition to a preview of his latest production, Dracula, presented at […]
Sursa International Light Art Festival, an event featuring immersive installations, projections, and light structures, will take place at the National Library of Romania from October 13 to October 19. The event brings together international and Romanian artists “in a visual dialogue about technology, architecture and sensitivity,” the organizers announced. “We wanted to build the opportunity […]
Romania’s Defense Ministry has signed a contract worth RON 50.4 million with Rheinnmetall Automecanica, a subsidiary of the German defense industry giant Rheinmetall, for the delivery of drone detection systems, Economedia.ro reported. The radar system will be delivered within 18 months at most and will reportedly be...
The former Steaua Roșie cinema in Cluj-Napoca will reopen as Edison-House of Music, a cultural hub dedicated to music and community, the organizers of the Jazz in the Park festival announced. Built in the early 1900s, the Edison building became, after World War II, the Steaua Roșie cinema. After 1989, the venue underwent several changes […]
Unprecedented amounts of precipitation have been recorded in Romania as cyclone Barbara hit the country on October 5-8, according to the authorities. At the same time, Bucharest exceeded the absolute maximum levels of rain for October. “Between October 5–8, 2025, Romania was affected by the Mediterranean cyclone Barbara, which formed over the Ionian Sea and […]
Romania is one of six European countries recently selected to develop a new artificial intelligence and supercomputing center under the EuroHPC – AI Factories program. The project, known as the AI Factory, will be Romania’s first national AI infrastructure, marking a major step toward strengthening its digital and research capabilities. The initiative will be led […]
