Under the agreement, RBS Romania will transfer a total portfolio of aggregate assets of around €260m, and corporate deposits of nearly €315m to UniCredit.
RBS Romania’s client portfolio comprises more than 500 mid market and large private corporates, local and international, as well as public and financial institutions.
UniCredit Tiriac Bank CEO and UniCredit Romania country chairman Rasvan Radu said: "This new portfolio acquisition represents another natural step for us, as UniCredit – leading European banking group – is committed to sustainable growth on the Romanian market.
"After the acquisition of the Retail and Royal Preferred Banking business from RBS Romania last year, the full integration of the Corporate portfolio is a very suitable choice, as both banks share common values of business excellence and customer centricity.
"Corporate represents a core business for us and this development perfectly fits our strategy in the medium and long-term, while at the same time consolidating our leading position in the market."
RBS Romania CEO and RBS Central and Eastern Europe hub executive Henk Paardekooper said: "We are confident that this will bring a lot of benefits and added value to our clients.
"Our customers are very important to us and we would like to ensure them that UniCredit Tiriac Bank will take over and build on the relationship we have developed with them."
The two banks have confirmed that the clients’ contractual conditions and to the technical details of their respective products and services will remain same despite transaction.
Scheduled to be finalised after receipt of the necessary approval by the Competition Council, the transaction is subject to consultation with the social partners and is expected to complete in the coming months.
Image: UniCredit Tiriac Bank has agreed to acquire RBS Romania’s corporate business portfolio. Photo: courtesy of adamr/FreeDigitalPhotos.net.
