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Banca Transilvania Will Purchase Tiriac Leasing

Comunicat de presa 2022-01-14
Banca Transilvania Will Purchase Tiriac Leasing

Banca Transilvania and Tiriac Group have signed an agreement for the purchase of Tiriac Leasing. The closing of the transaction is expected to happen during the first part of this year, after the analysis and approval of the competent authority.

Until the approval date, Tiriac Leasing will carry out their activity independent of the Banca Transilvania Financial Group, and will be subsequently integrated in the latter.

This strategic move of Banca Transilvania is meant to enhance BT’s involvement in a niche business model that is a game changer on the automotive market, and to strengthen BT’s position with alternative financing services.

Tiriac Leasing has been on the market for more than 20 years, in which they have developed a diversified portfolio of leasing products, acquiring significant and renown expertise in the automotive sector, which will be a relevant asset for the Banca Transilvania Financial Group. At the date of this transaction, the assets of Tiriac Leasing amount to EUR 213 million, financing more than 37,000 clients so far.

The Leasing Company within the Banca Transilvania Financial Group, BT Leasing (BTL), in its turn, has been on the market for more than 20 years, financing more than 10,000 clients via more than 20,000 contracts In 2018 they merged with ERB Leasing. BTL’s assets amount to RON 1,366 million. End of 2021 another company joined the BT Group. i.e. Idea::Leasing.

Once the transaction is completed, Banca Transilvania Financial Group will benefit from the expertise of the teams of the two entities specialized in financial lease, a merged portfolio and an expanded range of services and products. 

The consultants in the Tiriac Leasing – Banca Transilvania transaction were: PwC, D&B DAVID and BAIAS S.C.A. - for Banca Transilvania, and  – Filip & Company for the Tiriac Group.

Banca Transilvania’s first acquisition was in 2015, of Volksbank Romania, followed in 2018 by Bancpost, ERB Retail Services and ERB Leasing, and by Idea:Bank, Idea:Leasing and Idea::Broker de Asigurare, in 2021. 

Banca Transilvania & Tiriac Leasing

About Banca Transilvania:

Banca Transilvania is the largest bank in Romania and the main financer of the economy, covering all the client segments and business lines within the financial sector. With a story dating back almost 30 years, BT now has a market share of over 19%, 3.4 million clients, 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.

About Tiriac Leasing:

Tiriac Leasing is one of the top leaders of the leasing market in Romania and offers financial lease services for all vehicle types, from cars to commercial fleets, as well as for equipment. The client portfolio of Tiriac Leasing consist of both private, multinational, public sector companies and retail clients and self-employed individuals.