Banca Transilvania to acquire Tiriac Leasing

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

Until approval is received, Tiriac Leasing will operate independently from Banca Transilvania Financial Group and will be integrated into it at a later date.

BT's plan with this strategic step is both to engage directly in a niche business model that makes a difference in the automotive market and to strengthen its position with alternative financing services.

Tiriac Leasing has been active in the market for over 20 years, during which time it has developed a diversified portfolio of leasing products, with a significant and recognised specialisation in the automotive sector, which will generate a relevant contribution to Banca Transilvania Financial Group. At the date of this transaction, Tiriac Leasing has assets of EUR 213 million, financing over 37,000 customers over the years.

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

Banca Transilvania Financial Group will benefit from the expertise of the teams of the two entities specialising in financial leasing following the completion of the transaction, from a merged portfolio and an expanded range of services and derivative products.

The advisors in the Tiriac Leasing - Banca Transilvania transaction were: PwC, D&B DAVID and BAIAS S.C.A. - for Banca Transilvania, respectively - Filip & Company for Tiriac Group.

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

About Tiriac Leasing:

Tiriac Leasing is one of the leaders in the leasing market in Romania and offers finance lease financing for all vehicle models, from cars to commercial fleets, and equipment financing. Tiriac Leasing's client portfolio consists of private companies, multinationals, public sector companies, as well as individuals and licensed individuals.