Transilvania Bank and the Tiriac Group have signed an agreement to acquire the company Tiriac Leasing. The completion of the transaction is scheduled for the first part of this year, being subject to analysis and approval by the competent authority.

Until approval is received, Tiriac Leasing will carry out its activity independently from the Transilvania Bank Financial Group, and will subsequently be integrated into it.

BT's plan through this strategic step is both direct involvement in a niche business model that makes a difference in the automotive market, as well as strengthening the position with alternative financing services.

Tiriac Leasing has been operating on the market for over 20 years, during which it has developed a diversified portfolio of leasing products, showing significant and recognized specialization in the automotive sector, which will generate a relevant contribution for the Financial Group Banca Transilvania. At the date of this transaction, Tiriac Leasing has assets of 213 million euros, having financed over 37,000 clients over time.

The leasing company of the Banca Transilvania Financial Group, BT Leasing (BTL), has also been on the market for over 20 years, during which it has supported over 10,000 clients and has concluded over 20,000 contracts, and in 2018 it merged with ERB Leasing. BTL has assets of 1.366 million lei. In 2021, another company of the same profile joined the BT Group, Idea::Leasing.

Financial Group Banca Transilvania will benefit following the completion of the transaction from the expertise of the teams of the two entities specialized in financial leasing, from a combined portfolio and from an extensive variety of the offer of services and derivative products.

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.

Transilvania Bank made its first acquisition in 2015, Volksbank Romania, followed in 2018 by Bancpost, ERB Retail Services and ERB Leasing, respectively by Idea::Bank, Idea::Leasing and Idea::Insurance Broker, in 2021.

Banca Transilvania & Tiriac Leasing

About Banca Transilvania:

Banca Transilvania 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, 3.4 million customers, more than 9,000 employees, online banking solutions, and 500 branches in 180 localities. It is the only Romanian banking brand in the Brand Finance Banking 500 (2021). Beyond banking, BT wants 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.