UniCredit emerges as Romania’s third-largest bank after completing Alpha Bank takeover

By bne IntelliNews November 5, 2024

UniCredit announced on 4 November that it has acquired a 90.1% stake in Alpha Bank Romania from Alpha International Holdings SMSA, in a cash and equity transaction. 

The deal establishes Romania’s third-largest bank, trailing only Banca Transilvania and BCR, with a 12% market share by assets.

The transaction, approved by relevant authorities, involved a purchase price comprising €255mn in cash and 9.9% of UniCredit Bank Romania’s share capital. Following the acquisition, UniCredit is set to begin the gradual integration of Alpha Bank Romania, with a full merger anticipated by the latter half of 2025 once legal and regulatory stages are finalised.

This acquisition aligns with the strategic partnership between UniCredit and Alpha Services and Holdings, first announced in October 2023.

As part of the integration process, UniCredit has appointed Antoaneta Curteanu as executive president of Alpha Bank Romania, with responsibility for overseeing the merger with UniCredit Romania. Andrei Bratu will also join Alpha Bank Romania as executive vice president, leading the wholesale division focused on corporate clients.

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