Banca Transilvania acquired Bancpost, ERB Retail Services IFN and ERB Leasing IFN

Banca Transilvania became the owner of the majority stake (99.15%) held by Eurobank Group in Bancpost,respectively of the shares held in ERB Retail Services IFN and ERB Leasing IFN. With the completion of the transaction between Eurobank Group and BT, the integration of these entities into banca transilvania financial group begins.  

Bancpost was acquired at 75% of the net asset value, for approximately EUR 178.67 million. For ERB Retail IFN, BT paid EUR 40.42 million (77% the market price of the shares/book value), and for ERB Leasing IFN, EUR 6.79 million (63% the market price of the shares/book value). In addition, Banca Transilvania took over a subordinated loan worth 80 million euros for Bancpost.

"The acquisition of Bancpost is a very important moment in the story of Banca Transilvania and a step forward in our strategy to strengthen the position on the market. It follows an ambitious plan of integration into the BT Group, based on the synergies of Banca Transilvania - Bancpost. We are ready to adapt to the new dimension that the bank will have,and BT's firm commitment remains the support of entrepreneurs and the Romanian economy. We thank the representatives of Eurobank and Bancpost for the professional approach and collaboration that led to the success of this transaction",said Horia Ciorcila, President of the Board of Directors, BT.

Integration management

Banca Transilvania mandated Leontin Toderici, Deputy General Manager - Chief Operations Officer of Banca Transilvania, to coordinate the integration in the BT Financial Group, integration that will be achieved by involving the teams of both banks, BT and Bancpost. Leontin Toderici has over 20 years of experience in banking, is a PhD in economic informatics and an EMBA graduate.

Details for Bancpost, ERB Retail Services IFN and ERB Leasing IFN clients

• For operations, services and consultancy, clients must continue to address the respective entities.
• Bancpost's client accounts remain at Bancpost until the integration of Bancpost, ERB Retail Services IFN and ERB Leasing IFN into the BT Financial Group is completed.
• Contact information: 0800 110 200; 021 3020 789; infocenter@bancpost.ro

Banca Transilvania & Bancpost

With over 13% market share, Banca Transilvania is the second bank in Romania. BT has over 2.2 million customers, about 7,000 employees and nearly 500 offices. It is the first banking institution that was listed on the Bucharest Stock Exchange and the only Romanian banking brand in the Brand Finance 500 Ranking 2018 ranking. Bancpost is on the 9th place in the top of banks, has almost 3% of the market, over 1 million customers and 147 offices.

BT partners

Banca Transilvania collaborates with A.T. Kearney Management Consulting for the integration planning of Bancpost, ERB Retail Services IFN and ERB Leasing IFN in the BT Financial Group.

For the acquisition, the sole financial advisor for Banca Transilvania was Barclays Bank PLC, legal advice was provided by PeliFilip, and financial advice for accounting and diligence issues, by Deloitte.

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