Banca Transilvania acquired Tiriac Leasing

Press release 2022-06-02
Banca Transilvania acquired Tiriac Leasing

Banca Transilvania bought Tiriac Leasing from Tiriac Group, the first BT acquisition of a leasing company that is not part of a financial and banking group. The bank is thus taking a strategic step to strengthen its position on the car leasing market.

BT and the Tiriac Group announced in January .c. the signing of the purchase agreement. The approval from the Competition Council followed, and at this stage, with the closing of the transaction, BT will start the integration of Tiriac Leasing into the Banca Transilvania Financial Group.

Tiriac Leasing is the third profile company and the first independent leasing company, acquired by Banca Transilvania, after Idea::Leasing and ERB Leasing. In 2019, ERB Leasing merged with BT Leasing, and Idea::Leasing is in the integration phase in BT Financial Group.

BT Leasing and Tiriac Leasing are top companies on the Romanian leasing market, with over 20 years of activity in the field. Tiriac Leasing has a diversified portfolio of leasing products and offers financing in financial leasing system for all models of vehicles, as well as equipment financing. Its clients are private companies, public sector institutions, multinationals, individuals and authorized individuals. The company reached assets of 213 million euros at the end of 2021, and over time it has financed almost 40,000 customers.

For Banca Transilvania Financial Group, the acquisition shows the interest for the development of the leasing market, the growth and strengthening of the team, respectively the transfer of expertise.

The transaction consultants were, for Banca Transilvania, PwC, D&B DAVID and BAIAS S.C.A., and for 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 in the financial sector. With a story started almost 30 years ago, it has over 19% market share, 3.6 million customers, over 9,000 employees, online banking solutions and 500 offices in 180 localities. Beyond banking, BT wants to have a positive impact in Romania, both for people, as well as for business and the environment.

About Tiriac Leasing: Tiriac Leasing is one of the leaders of the leasing market in Romania and offers financing in financial leasing system for all models of vehicles, from cars to commercial fleets, and equipment financing. The client portfolio of Tiriac Leasing consists of both private companies, multinationals, public sector companies, as well as individuals and authorized individuals.