Banca Transilvania acquired Idea Bank

– Horia Ciorcilă, 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, said the bank in a statement.

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 Ciorcilă, 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.

Banca Transilvania is the largest bank in Romania and the main financer of the economy. With a story dating back almost 30 years, BT now has a market share of 18%, 3.4 million clients, 3 business lines, more than 9,000 employees, online banking solutions and 500 units in 180 cities. It is the only Romanian banking brand that is part of the Brand Finance Banking 500 (2021).

Driven by more than just baking, BT wants to have a positive impact in Romania, both for the people and for the business and the environment.