Romanian lender Banca Transilvania has bought a new core-banking system from Oracle, Oracle Flexcube, the bank has announced. The total investment in acquiring and implementing the new platform could reach EUR 15 million. More about the Oracle Flexcube core-banking product here.

The bank has 540 branches in Romania and 20 new locations were inaugurated this year. Banca Transilvania shareholders have recently subscribed 93 percent of the bank’s share capital increase, the bank has announced. Banca Transilvania has increased its share capital by EUR 26.3 million.

The bank is owned by the European Bank for Reconstruction and Development (EBRD), with 15 percent of the shares, Bank of Cyprus with 9.5 percent, the SIFs investment funds, private investor Horia Ciorcila with 5 percent, the International Financial Corporation with 3 percent.

editor@romania-insider.com