Banca Transilvania and the Tiriac Group have signed an agreement to acquire Tiriac Leasing. Completion of the transaction is expected in the first part of this year, subject to review and approval by the competent authority.

Until approval is obtained, Tiriac Leasing will operate independently of the Banca Transilvania Financial Group, and will be integrated into it thereafter.

With this strategic step, BT aims both to become directly involved in a niche business model that stands out in the auto market, and to strengthen its position with alternative financing services.

Tiriac Leasing has been active for over 20 years, during which it has built a diversified portfolio of leasing products and developed significant, recognised expertise in the auto sector, which will add meaningfully to the Banca Transilvania Financial Group. As at the date of this transaction, Tiriac Leasing has assets of 213 million euros and has financed over 37,000 clients.

The leasing company within the Banca Transilvania Financial Group, BT Leasing (BTL), has likewise been in the market for over 20 years, during which it has supported over 10,000 clients and concluded more than 20,000 contracts, and in 2018 it merged with ERB Leasing. BTL has assets of 1,366 million lei. In 2021, another company in the field joined the BT Group, Idea::Leasing.

On completion of the transaction, the Banca Transilvania Financial Group will benefit from the expertise of the teams of the two entities specialised in financial leasing, from a combined portfolio, and from a broader range of services and related products. 

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

Banca Transilvania made its first acquisition in 2015, Volksbank Romania, followed in 2018 by Bancpost, ERB Retail Services and ERB Leasing, and by Idea::Bank, Idea::Leasing and Idea::Broker de Asigurare, 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 lines of business in the financial sector. With a story that began almost 30 years ago, it has a market share of over 19%, 3.4 million clients, more than 9,000 employees, online banking solutions and 500 branches in 180 locations. It is the only Romanian banking brand in Brand Finance Banking 500 (2021). Beyond banking, BT aims to have a positive impact in Romania, for people, businesses and the environment alike.

About Tiriac Leasing:

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