Banca Transilvania will acquire from Eurobank Group the shares it holds in Bancpost S.A., ERB Retail Services IFN S.A. and ERB Leasing IFN S.A., the two banks having reached an agreement to this effect.

Horia Ciorcila, Chairman of the Board of Directors of Banca Transilvania, said: “Acquiring Bancpost is an opportunity for BT given the potential for integration with our business. This acquisition complements Banca Transilvania’s organic growth strategy, strengthening our market position. We are prepared to adapt responsibly to BT’s new scale and to the new realities. Our bank will continue to support Romanian entrepreneurs and the local economy, creating added value for shareholders, customers and our team. We thank the Eurobank representatives for their support, professionalism and cooperation in negotiating this transaction of strategic importance to both parties.”

Stavros Ioannou, Deputy CEO, Eurobank, said: “With the sale of Bancpost and its affiliated companies, Eurobank fulfills its final divestment obligation under the restructuring plan approved by the European Commission. I believe this transaction with a partner of unquestionable reputation such as Banca Transilvania is fully in the interests of Bancpost’s customers, depositors and employees. Eurobank will focus on developing its core markets. I would like to thank all our colleagues in the Romanian subsidiaries for their close cooperation over the years, as well as our partners at BT for bringing this process to a successful conclusion.”

Banca Transilvania and Bancpost will continue to operate independently until approvals are obtained from the NBR and the Competition Council, expected in the coming months. Once the acquisition is completed, BT will integrate Bancpost into its business, with support from teams on both sides.

Barclays Bank PLC acted as sole financial adviser to Banca Transilvania on this transaction. PeliFilip provided legal advice, and Deloitte provided financial advice on accounting and due diligence matters. Mediobanca - Banca di Credito Finanziario S.p.A. and HSBC Bank Plc were Eurobank’s financial advisers on the transaction, while Shearman & Sterling LLP and Schoenherr si Asociatii SCA provided legal advice.

With a market share of over 13% and total assets of RON 54.9 billion (EUR 11.9 billion), Banca Transilvania is Romania’s second-largest bank. BT has over 7,000 employees, 2.2 million customers, is the market leader in cards and operates around 500 branches. The bank’s story began almost 24 years ago in Cluj-Napoca with a team of 13 people. It was the first bank in Romania to list on the Bucharest Stock Exchange and is among the strongest Romanian brands.

Bancpost ranks ninth among banks in Romania, with nearly a 3% market share and assets of RON 11.6 billion (EUR 2.5 billion). Its team numbers over 2,000 employees and its network comprises around 150 branches. Over 1 million customers bank with Bancpost.

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