Banca Transilvania has become the owner of the majority stake (99.15%) held by Eurobank Group in Bancpost, as well as the shares held in ERB Retail Services IFN and ERB Leasing IFN. With the closing of the transaction between Eurobank Group and BT, the integration of these entities into the BT Financial Group begins.  

Bancpost was acquired at 75% of net asset value, for approximately 178.67 million euros. For ERB Retail IFN, BT paid 40.42 million euros (77% of the market price of the shares/book value), and for ERB Leasing IFN, 6.79 million euros (63% of the market price of the shares/book value). In addition, Banca Transilvania assumed a subordinated loan for Bancpost amounting to 80 million euros.

“The acquisition of Bancpost is a very important milestone in Banca Transilvania’s story and a step forward in our strategy to consolidate our market position. An ambitious integration plan within the BT Financial Group will follow, built on the Banca Transilvania–Bancpost synergies. We are ready to adapt to the new scale that the bank will have, and BT’s firm commitment remains supporting Romanian entrepreneurs and the country’s economy. We thank the representatives of Eurobank and Bancpost for their professional approach and the cooperation that led to the success of this transaction”, said Horia Ciorcila, Chairman of the Board of Directors, BT.

Integration management

Banca Transilvania has appointed Leontin Toderici, Deputy CEO – Chief Operations Officer at Banca Transilvania, to coordinate the integration into the BT Financial Group, which will be carried out with the involvement of teams from both banks, BT and Bancpost. Leontin Toderici has more than 20 years’ experience in banking, holds a PhD in business informatics and is an EMBA graduate.

Information for Bancpost customers, ERB Retail Services IFN and ERB Leasing IFN

• For transactions, services and advice, customers should continue to contact the respective entities.
• Bancpost customers’ accounts will remain at Bancpost until the integration of Bancpost, ERB Retail Services IFN and ERB Leasing IFN into the BT Financial Group is completed.
• Contact details: 0800 110 200; 021 3020 789; infocenter@bancpost.ro

Banca Transilvania & Bancpost

With a market share of over 13%, Banca Transilvania is Romania’s second-largest bank. BT has more than 2.2 million customers, around 7,000 employees and nearly 500 branches. It was the first bank to be listed on the Bucharest Stock Exchange and the only Romanian banking brand in the Brand Finance 500 Ranking 2018. Bancpost ranks 9th among banks, has almost 3% of the market, over 1 million customers and 147 branches.

BT partners

Banca Transilvania is working with A.T. Kearney Management Consulting on planning the integration of Bancpost, ERB Retail Services IFN and ERB Leasing IFN into the BT Financial Group.

For the acquisition, Banca Transilvania’s sole financial adviser was Barclays Bank PLC, legal advice was provided by PeliFilip, and financial advice on accounting and due diligence matters by Deloitte.

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