UniCredit Bank and Alpha Bank România have finalised their merger, consolidating UniCredit Group’s market presence in Romania across corporate and retail sectors.
The merged entity now holds an 11% market share in assets, 13% in loans, and 11% in customer deposits.
The development enhances UniCredit’s operational capacity in Romania, offering a network of around 300 branches and 900 ATMs for customer convenience.
The combined workforce numbers over 4,800 employees, integrating personnel from Alpha Bank Romania.
UniCredit CEO Andrea Orcel said: “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 organisations 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 of the merger signifies a key milestone for UniCredit, aligning with its strategic growth initiatives, including the recent internalisation of Italy’s life insurance.
UniCredit acquired a 90.1% stake in Alpha Bank Romania from Alpha International Holdings, a subsidiary of Alpha Services and Holdings. The transaction involved a payment of 9.9% of UniCredit Romania’s share capital and approximately €255m in cash.
UniCredit Bank Romania CEO Mihaela Lupu 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 nine months.
“Alpha Bank Romania customers, whom I welcome to UniCredit, will enjoy a wider range of financial solutions, an extensive network of branches and ATMs, and the top banking technology.”
