Banca Transilvania has bought Tiriac Leasing from the Tiriac Group, BT's first acquisition of a leasing company that is not part of a financial-banking group. The bank thus takes a strategic step to strengthen its position in the auto leasing market.

BT and the Tiriac Group announced in January this year the signing of the acquisition agreement. This was followed by the receipt of approval from the Competition Council, and at this stage, with the closing of the transaction, BT will begin the integration of Tiriac Leasing into the Banca Transilvania Financial Group.

Tiriac Leasing is the third company of its kind 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 in the integration stage within the BT Financial Group.

BT Leasing and Tiriac Leasing are top companies in the leasing market in Romania, with over 20 years of activity in the field. Tiriac Leasing has a diversified portfolio of leasing products and offers financing in the financial leasing system for all vehicle models, as well as equipment financing. Its clients are private companies, public sector institutions, multinationals, individuals, and authorized natural persons. The company reached assets of 213 million euros at the end of 2021, and over time has financed almost 40,000 clients.

For the Financiar Group Banca Transilvania, the acquisition shows interest in the development of the leasing market, the growth and strengthening of the team, and the transfer of expertise.

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

Banca Transilvania & Tiriac Leasing
About Transilvania Bank: Transilvania Bank is the largest bank in Romania and the main financier of the economy, covering all customer segments and business lines in the financial sector. With a story that began 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 localities. Beyond banking, BT aims to have a positive impact in Romania, both for people, business, and the environment.

About Tiriac Leasing: Tiriac Leasing is one of the leaders of the leasing market in Romania and offers financing in the financial leasing system for all vehicle models, from cars to commercial fleets, and equipment financing. The client portfolio of Tiriac Leasing consists of private companies, multinationals, companies from the public sector, as well as individuals and authorized individuals.