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Merger of Alpha Bank and UniCredit Bank Romania

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2023-10-23 12:18

Press Release:

"Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania

Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a 9.9% stake

Alpha Services and Holdings S.A., 100% parent of Alpha Bank S.A. (“Alpha Bank”), and UniCredit have agreed the key economic terms for the merger of UniCredit Bank S.A. (“UniCredit Bank Romania”) with Alpha Bank Romania S.A (“Alpha Bank Romania”), as part of a broader strategic partnership.

Under the terms of the merger, Alpha Bank is expected to retain 9.9% of the combined entity’s share capital and will remain involved in the new combined entity via governance mechanisms including board level representation.

Transaction completion is expected in 2024, subject to confirmatory due diligence process, corporate approvals for the merger and all necessary regulatory approvals and consents, including on anti-trust.

The transaction will create the third largest bank in the local market in terms of total assets by combining two of the top ten banks in Romania. It brings together two complementary franchises, with UniCredit Bank Romania and Alpha Bank Romania having solid footholds in the corporate and retail segments, creating a major diversified financial institution that will be better positioned to serve its customers and to create new opportunities for growth within the Romanian market.

For the first time in Romania, two European banking groups are joining forces in a partnership approach to consolidate the market. This new approach aims to not only support the Romanian economy but also to prioritize the needs of the customers and those communities within which they operate.

Following the transaction, Alpha Bank Romania’s customers will have access to a wider range of services and products. Throughout the transition period, Alpha Bank Romania will maintain its high level of service excellence and ensure continuity for its customers.

The bank will also prioritize the support and development of its employees during the merger process, ensuring quality of customer service and opportunities for personal growth.

With a focus on combining the strengths of both organizations, Alpha Bank remains committed to its 30-year history in Romania and aims to provide exceptional value to both customers and employees.

Taguri: UniCredit Bank  Alpha Bank  banca  


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