Banca Transilvania will start the integration of Ţiriac Leasing into the Banca Transilvania Financial Group after receiving the necessary approvals for this transaction.

This is the first BT acquisition of a stand-alone leasing company, meaning one that was not acquired as part of a financial-banking group. The bank said it is taking a strategic step in strengthening its position in the car leasing market.

BT and the Tiriac Group announced the signing of the acquisition agreement in January, conditioned at that time by approval from the Competition Council.

Once the transaction is closed, BT will begin integrating Tiriac Leasing into Banca Transilvania Financial Group, according to information provided by the bank.

andrei@romania-insider.com

(Photo source: Banca Transilvania)