* 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.
Romanian prime minister Marcel Ciolacu said on Monday, February 24, that a "lasting peace" in Ukraine cannot be achieved without the involvement of the United States, and argued that Romania does not have to choose between it and the European Union. The statements come as the Trump administration is currently negotiating a resolution to the […]
Romania's acting president, Ilie Bolojan, has invited leaders of parliamentary parties to consultations on Wednesday, February 26, to prepare the country's stance for the extraordinary European Council meeting on March 6 in Brussels. The summit, convened by European Council president Antonio Costa,...
Roughly 40 searches took place in the Port of Constanța and other locations on Monday, February 24, in an investigation by the Anti-Corruption Directorate, or DNA, targeting influential local businessmen, former customs officials in the port, and one of the leaders of the Constanța branch of the governing Social Democratic Party (PSD). The prosecutors’ accusations […]
The Bucharest Community Foundation has announced funding for two new projects aimed at enhancing climate resilience in the Romanian capital by implementing sustainable ecological solutions to improve urban infrastructure and environmental quality. The projects were selected through the sixth round of the Environmental Platform for Bucharest initiative. Out of 16 eligible proposals, the jury chose […]
One of the hostages released on Saturday, February 22, by the terrorist organization Hamas also holds Romanian citizenship. The exchange took place before another setback in negotiations and exchanges. Hostages Tal Shoham and Avera Mengistu were released during a staged event in Rafah, and hostages Eliya Cohen, Omer Shem Tov, and Omer Wenkert were released […]
Polish company Scallier, who is expanding its network of Funshop Park retail parks in Romania, is set to open a new shopping center in the Arad region. The opening date for the roughly 10,000 sqm retail park is March 6. The decision to build a retail park in the Arad region in western Romania was […]
