UniCredit Bank has successfully completed its merger with Alpha Bank Romania, solidifying its presence in the Romanian banking sector. The acquisition involved a 90.1% stake in Alpha Bank Romania for approximately €255m in cash. The newly formed entity holds an 11% market share in assets, 13% in loans, and 11% in customer deposits.

UniCredit Bank Romania CEO expressed delight in the smooth integration, welcoming Alpha Bank Romania customers to a wider range of financial solutions, branches, ATMs, and top banking technology. The merged bank now boasts a network of around 300 branches and 900 ATMs nationwide, employing over 4,800 people, including former Alpha Bank Romania personnel.

UniCredit CEO highlighted the strategic benefits of the merger, emphasizing the strengthened market position and potential for accelerated growth. The efficient integration process showcases UniCredit’s ability to merge complex systems and organizations for the benefit of clients, employees, and shareholders. The acquisition marks a significant step towards profitable growth for UniCredit and its customers.

Read more at Yahoo Finance: UniCredit completes merger with Alpha Bank Romania