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UniCredit Bank Romania Merger with Alpha Bank Romania Successfully Completed
The merger between UniCredit Bank S.A. (UniCredit Bank in Romania) and Alpha Bank România S.A. (Alpha Bank Romania) has been successfully completed. The combined UniCredit Bank strengthens the market position of the UniCredit Group in the country in both corporate and retail segments.
The new bank has 11% market share in assets, 13% in loans (UniCredit Consumer Financing) and 11% in deposits from customers.
UniCredit Bank in Romania has now a network of approximately 300 branches in optimal proximity to the customers and ensures their efficient access to various financial solutions. The bank’s customers can use a wide network of 900 ATMs across the country. Over 4,800 employees work in the combined bank. This number includes Alpha Bank Romania employees.
Andrea Orcel, CEO of UniCredit, stated: “The integration of Alpha Bank and UniCredit in Romania was completed smoothly and in record time, demonstrating once again UniCredit’s ability to decisively and efficiently integrate complex systems and organizations into one at pace, for the benefit of our clients, people, shareholders and all other stakeholders. This acquisition and merger of Alpha Bank Romania enables UniCredit to strengthen its market position and unlock new potential for accelerated, profitable growth, both for us and for our customers. Alpha’s long-standing presence in Romania, that continues via its maintaining a 9.9% stake in UniCredit Bank Romania, reinforces our strategic role in Eastern Europe, a region in continuous development. UniCredit Group has a credible trajectory of sustainable quality organic growth.”
The completion also marks the delivery of first milestone of another of UniCredit’s key growth accelerators, following the successful internalization of Italy’s life insurance, further underscoring the sustainability of UniCredit’s sustainable quality growth.
Mihaela Lupu, CEO of UniCredit Bank in Romania said: “By completing the merger, we become a stronger bank and better positioned for the future. We were delighted that there was a very good energy between our teams, and we complemented each other, managing to become one bank in just 9 months. Alpha Bank Romania customers, whom I welcome to UniCredit, will enjoy wider range of financial solutions, an extensive network of branches and ATMs, and the top banking technology.”
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