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BANCA TRANSILVANIA S.A.

(TLV)
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Banca Transilvania acquired Idea Bank and the other companies being part of Idea Group Romania

10/29/2021 | 07:31am EST

Comunicat de presa2021-10-29

Horia Ciorcila, BT: "We are confident that through our endeavors we are
groundbreakers on the Romanian banking market.
"

  • Idea::Bank is the third bank purchased by Banca Transilvania.
  • The new entity of the BT Financial Group will be a digital banking hub.
  • The positive impact of this acquisition is more than just another step for the consolidation of the banking sector, it also derives from the ESG agenda of the new digital bank.

Banca Transilvania reached the closing phase for the acquisition of Getin Holdings shares in Idea::Bank, Idea::Leasing and Idea::Insurance Broker. BT announced the signing of the purchase agreement in June this year, and lately, the Bank received the necessary authorizations for the completion of the transaction from the National Bank of Romania and from the Competition Council.

Idea::Bank will become a digital banking hub, beyond the scope of traditional commercial banks. All the three entities known under the Idea brand will have new corporate identities.

The new transaction will not only contribute to the Romanian banking sector consolidation but will also convey the affirmation of the new bank as a digital platform with an ESG agenda at all levels.

"We are happy to supplement Banca Transilvania's ecosystem and capabilities with a new entity that has technology written in its DNA." We are confident that through our endeavors we are groundbreakers on the Romanian banking market and to our clients who are keener and keener for online banking products and services. We are appreciative to the ones who have contributed to the success of this purchase - authorities, financial and legal advisors, and BT's dedicated team. Likewise, we thank the Getin Holding Group for their trust and cooperation", states Horia Ciorcila, Chairman of the Board of Directors, Banca Transilvania.

For operations, services and consultancy, the clients of Idea::Bank will continue to keep in touch with the Idea::Bank team, at the following contact details: salut@idea-bank.ro, *4455, or in any unit of the bank.

The omnichannel ecosystem of Banca Transilvania integrates the advantages of the conventional branch with online banking. 67% of the total number of clients - i.e. 2.3 million - are digitalized, using at least one of the bank's digital solutions - applications, Internet Banking or Mobile Banking, regularly.

Idea::Bank is the third bank purchased by Banca Transilvania, after Bancpost (2018) and Volksbank Romania (2015).

The consultants of Banca Transilvania in this transaction were: Barclays Bank Ireland PLC, Filip&Company, EY and Linklaters.

Disclaimer

Banca Transilvania SA published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 11:30:07 UTC.


© Publicnow 2021
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Sales 2021 4 889 M 1 126 M 1 126 M
Net income 2021 1 823 M 420 M 420 M
Net Debt 2021 - - -
P/E ratio 2021 8,42x
Yield 2021 7,96%
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Omer Tetik Chief Executive Officer
Horia Ciorcila Chairman & President
George-Razvan Cãlinescu Chief Finance Officer & Deputy CEO
Leontin Toderici Chief Operating Officer & Deputy CEO
Ivo Alexandrov Gueorguiev Independent Non-Executive Director
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