Banca Transilvania will acquire the shares held by the Polish group Getin Holding in Idea::Bank, Idea::Leasing and Idea::Broker de Asigurare. The acquisition agreement has been signed, and until approvals are received from the National Bank of Romania and the Competition Council, the IDEA entities will continue to operate independently. The transaction is valued at 213 million lei (EUR 43 million).

In Romania, the companies under the IDEA brand had total assets of 2.85 billion lei, over 60,000 customers, 530 employees and 46 branches at the end of last year.

The Getin Holding Group is listed on the Warsaw Stock Exchange and operates in retail banking, leasing, financial intermediation, factoring and advisory in Poland, Ukraine and Romania.

"We see the acquisition of Idea::Bank as a new opportunity for Banca Transilvania and for customers. While our other acquisitions were about strengthening BT’s business, this one is part of our strategy to continue launching online banking initiatives. Idea::Bank, as part of the Banca Transilvania Financial Group, will be a digital banking hub through which we will launch and develop creative ideas for digital solutions for current and future customers. We would like to thank the top management of Getin Holding Group for their trust and cooperation, and all those who contributed to the success of this transaction" – said Horia Ciorcila, Chairman of the Board, Banca Transilvania.

"We are proud of what our companies have achieved in Romania. As a foreign investor, Getin Holding is very pleased to have contributed to the development of the Romanian economy. As part of our philosophy, having fulfilled our mission, we are happy that the assets in Romania will become part of the Banca Transilvania Financial Group, the largest and most dynamic player on the market" – said Piotr Kaczmarek, CEO, Getin Holding.

In this transaction, Barclays Bank Ireland PLC, Filip & Company, EY and Linklaters acted as advisers to Banca Transilvania, while Rothschild & Co., Sayenko Kharenko and Nestor Nestor Diculescu Kingston Petersen advised Getin Holding.

Banca Transilvania made its first acquisition in 2015, Volksbank Romania, which was the largest transaction on the Romanian banking market. In 2018, the bank acquired Bancpost, ERB Retail Services and ERB Leasing. These acquisitions complemented BT’s strategy to grow and consolidate its market share, leading, together with organic growth, to the bank’s rise to the number one position in the Romanian banking system.

Today, Banca Transilvania has 3.2 million customers, over 9,000 employees and 500 branches, and is also the largest financial group in South-Eastern Europe.