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

BT and the Tiriac Group announced in January this year that they had signed the acquisition agreement. Approval from the Competition Council followed, and at this stage, with the transaction now closed, BT will begin integrating Tiriac Leasing into the BT Financial Group.

Tiriac Leasing is the third company of its kind acquired by Banca Transilvania and the first independent leasing company, following the acquisitions of Idea::Leasing and ERB Leasing. In 2019, ERB Leasing merged with BT Leasing, and Idea::Leasing is in the process of being integrated into the BT Financial Group.

BT Leasing and Tiriac Leasing are leading players on Romania’s leasing market, with more than 20 years in the business. Tiriac Leasing has a diversified leasing product portfolio and provides finance leases for all vehicle models, as well as equipment financing. Its customers include private companies, public sector institutions, multinationals, individuals and sole proprietors. At the end of 2021, the company had total assets of EUR 213 million and, over time, has financed almost 40,000 customers.

For the BT Financial Group, the acquisition signals its interest in developing the leasing market, growing and strengthening the team, and transferring know-how.

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

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 across the financial sector. Founded nearly 30 years ago, it has a market share of over 19%, 3.6 million customers, more than 9,000 employees, online banking solutions and 500 branches in 180 locations. Beyond banking, BT aims to have a positive impact in Romania, for people, business and the environment.

About Tiriac Leasing: Tiriac Leasing is one of the leaders of Romania’s leasing market and provides finance leases for all vehicle types, from passenger cars to commercial fleets, as well as equipment financing. Tiriac Leasing’s client base includes private companies, multinationals, public sector entities, individuals and sole proprietors.