Intesa Sanpaolo has completed the merger by incorporation of First Bank into Intesa Sanpaolo Bank Romania. The announcement comes one year after the acquisition and after receiving the green light from the National Bank of Romania and have registered in the Companies Register.
“From today the two institutes will operate under a single brand strengthening the bank's position in the local market and marking a new stage in the Intesa Sanpaolo group's growth and investment strategy in Central and Eastern Europe,” the bank said in a statement.
The new bank
The clients of the bank born from the marriage between the two companies will therefore be able to benefit from a network of 58 branches and over 700 ATMs and multifunctional terminals in the Intesa Sanpaolo Bank Romania and Euronet networks. The new Intesa Sanpaolo Bank Romania has total assets of approximately 3,1 billion euros, 170.000 customers and over 1.110 employees.
“The merger of First Bank into Intesa Sanpaolo Bank Romania represents an important step in strengthening our presence in Central and Eastern Europe; reflects Intesa Sanpaolo's confidence in Romania's potential and our long-term commitment to the country. We are proud to leverage our group's experience, innovation, and values to support Romania's sustainable growth, working alongside people, businesses and institutions to build an increasingly inclusive future,” he declared Paola Papanicolaou, head of the international banking division of the Intesa Sanpaolo group.
