Banca Transilvania will acquire Idea::Bank and the other companies with the IDEA brand in Romania

Banca Transilvania will acquire the shares held by the Polish group Getin Holding in Idea::Bank, Idea::Leasing and Idea::Insurance Broker. The acquisition agreement has been signed, and until the approval of the NBR and the Competition Council, IDEA entities will operate independently. The value of the transaction is 213 million lei (43 million euro).

Companies in Romania under the IDEA brand represent 2.85 billion lei in total assets, over 60,000 clients, 530 employees and 46 units at the end of last year.

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

"We see the acquisition of Idea::Bank as a new opportunity for Banca Transilvania and for our clients. While the other acquisitions were to strengthen BT's business, this one is part of the strategy to continue launching online banking initiatives. Idea::Bank, as part of 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 thank the Getin Holding Group top management and all those who contributed to the success of this transaction for their trust and collaboration" - says Horia Ciorcila, Chairman, Board of Directors, Banca Transilvania.

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

In this transaction, Barclays Bank Ireland PLC, Filip & Company, EY and Linklaters are advising Banca Transilvania, and Rothshild & Co., Sayenko Kharenko and Nestor Nestor Diculescu Kingston Petersen, of Getin Holding.

Banca Transilvania made its first acquisition in 2015, Volksbank Romania, which was the largest transaction in the Romanian banking market. In 2018, the bank bought Bancpost, ERB Retail Services and ERB Leasing. These acquisitions completed BT's strategy of growing and consolidating its market share, leading - together with organic growth - to the bank's rise to the top of the Romanian banking system.

Banca Transilvania means today 3.2 million customers, more than 9,000 employees, 500 branches and the largest financial group in South-East Europe.