Banca Transilvania gets final permit to take over Idea Bank

Romania’s biggest lender by assets, Banca Transilvania, received the final permit from the competition body to take over Idea Bank – including the companies Idea Investment, Idea Leasing IFN and Idea Insurance Broker – from Polish financial group Getin Holding, Profit.ro reported.

On September 14, the National Bank of Romania (BNR) approved the transaction. Getin Holding reached an agreement for the sale of Idea Bank and its subsidiaries to Banca Transilvania in June, in a transaction of RON 213 mln (EUR 43 mln), according to Romania-Insider.com.

Banca Transilvania, the leader of local banking, is heading for a 20% share of the market after buying Idea Bank, the third acquisition after Bancpost and Volksbank.

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