Banca Transilvania has acquired Tiriac Leasing
Comunicat de presa 2022-06-02
Banca Transilvania has acquired Tiriac Leasing from the Tiriac Group, the first BT’s acquisition of a leasing company that is not part of a financial-banking group. The bank is thus taking a strategic step to strengthen its position in the car leasing market.
BT and Tiriac Group announced the signing of the acquisition agreement in January this year. The approval from the Competition Council followed, and, on this stage, once the transaction is closed, BT will start integrating Tiriac Leasing into Banca Transilvania Financial Group.
Tiriac Leasing is the third leasing company and the first independent leasing company acquired by Banca Transilvania, after Idea::Leasing and ERB Leasing. In 2019, ERB Leasing merged with BT Leasing, and Idea::Leasing is currently on the integration phase into BT Financial Group.
BT Leasing and Tiriac Leasing are leading companies of the Romanian leasing market, with over 20 years of activity in the field. Tiriac Leasing has a diversified portfolio of leasing products and offers financial leasing financing for all vehicles models as well as financing for equipment. Its customers are private companies, public sector institutions, multinational companies, private individuals and licensed individuals. The company reached assets amounting to EUR 213 million as at the end of 2021 and has financed almost 40,000 customers over the years.
For Banca Transilvania Financial Group, the acquisition shows the interest of the Group for the leasing market development, for the consolidation of the team and for the transfer of expertise.
The transaction’s consultants were, PwC, D&B DAVID and BAIAS S.C.A. for Banca Transilvania and Filip & Company for the Tiriac Group.
Banca Transilvania & Tiriac Leasing
About Banca Transilvania: Banca Transilvania is the largest bank in Romania and the main lender of the economy, covering all customer segments and business lines in the financial sector. With a history that started almost 30 years ago, it has over 19% market share, 3.6 million customers, over 9,000 employees, online banking solutions and 500 branches in 180 cities. Beyond banking, BT wants to have a positive impact in Romania, for the people, the business and the environment.
About Tiriac Leasing: Tiriac Leasing is one of the leading leasing companies in Romania and offers financial leasing financing for all vehicle models, from cars to commercial fleets, as well as financing for equipment. Tiriac Leasing’s customer portfolio consists of private companies, multinationals, public sector companies, as well as individuals and licensed individuals.