Merger of UniCredit and Alpha Bank Romania Finalized Successfully
UniCredit, the Italian banking group, has announced a significant merger of its Romanian subsidiary, UniCredit Bank Romania, with Alpha Bank Romania. This merger, supported by over 4,800 employees, including those from Alpha Bank, is set to bring about a series of changes in the Romanian banking sector.
The transaction, which was completed in October 2020, saw UniCredit S.p.A. acquiring a 90.1% stake in Alpha Bank Romania from Alpha International Holdings for a total of EUR 255 million in cash and a 9.9% shareholding in UniCredit Romania.
The combined bank now boasts a network of around 300 branches and 900 ATMs nationwide, making it one of the largest banking networks in Romania. This expansion is expected to enhance UniCredit's market presence, as the newly combined bank now holds a 11% market share in assets, 13% in loans (UniCredit Consumer Financing), and 11% in deposits from customers.
Mihaela Lupu, CEO of UniCredit Bank Romania, expressed her optimism about the merger, stating that it makes the bank stronger and better positioned for the future. She believes that the merger will unlock new potential for growth and enable UniCredit to strengthen its market position in Eastern Europe.
Alpha Bank, despite relinquishing the majority of its stake, maintains a 9.9% stake in UniCredit Bank Romania following the merger. This partnership is expected to foster a collaborative relationship between the two banks, further benefiting the Romanian banking sector.
The merger marks a new milestone in UniCredit's growth strategy, reinforcing its strategic role in Eastern Europe. UniCredit announced the merger as a step towards achieving its long-term vision of becoming the leading pan-European commercial bank.
In conclusion, the merger of UniCredit Bank Romania and Alpha Bank Romania is set to reshape the Romanian banking landscape. The combined bank, with its expanded network and increased market share, is poised to offer enhanced banking services to its customers while strengthening UniCredit's foothold in Eastern Europe.
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