UniCredit has completed the acquisition of Alpha Bank Romania, which will be merged into its Romanian subsidiary, creating the country's third largest banking group by assets with a 12 percent market share.

The bank, led by Andrea Orcel, has in fact acquired 90.1 percent of Alpha Bank Romania for €255 million in cash plus 9.9 percent of UniCredit Romania, as part of the strategic partnership signed with Alpha Services and Holdings announced a year ago, says a note.

The merger of Alpha Bank Romania into UniCredit Romania is expected to take place in the latter part of 2025.

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(Gianluca Semeraro, editing Antonella Cinelli)