UniCredit Group has closed the acquisition of 90.1% stake in Alpha Bank Romania, a Romanian business of Greece’s Alpha Bank.
This move is part of a strategic partnership between UniCredit and Alpha Services and Holdings, initiated on 23 October 2023.
The transaction includes a share swap and a cash consideration of approximately €255m.
It signals the start of a gradual integration process, with the full merger of Alpha Bank Romania into UniCredit Bank Romania expected in the second half of 2025.
UniCredit said the merger aims to combine the strengths of two banks with deep roots and expertise in the Romanian market, particularly in the corporate and retail segments.
The resulting entity is projected to place UniCredit Group as the third-largest bank in Romania, with a market share of about 12% in terms of total assets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataPost-merger, Alpha will maintain a significant presence in Romania by holding a 9.9% stake in UniCredit Bank Romania.
UniCredit CEO Andrea Orcel said: “This is a decisive step in our strategic partnership with Alpha, allowing us to further enhance our presence in the country for the benefit of clients and our wider stakeholders. Romania holds strategic importance within our growing Eastern European region.
“With a stronger, efficient bank powered by innovative products made available to a larger customer base we will be able to increase support to individuals, SMEs and local communities. The resulting bank will be well positioned for growth opportunities in the market, as well as for the development of the potential of all employees in Romania and across the wider Group”.
To oversee the integration, UniCredit has appointed Antoaneta Curteanu as the new executive president of Alpha Bank Romania.
Additionally, Andrei Bratu will join the bank as executive vice-president, responsible for the Wholesale Division managing corporate clients.
Sergiu Oprescu, the former executive president of Alpha Bank Romania, is set to join the supervisory board of UniCredit Romania, pending approval from the National Bank of Romania.
Furthermore, Alpha Services and Holdings has nominated two members to the Supervisory Board of UniCredit Romania.
