Italian group Intesa Sanpaolo has completed the takeover of competitor Veneto Banca’s operations in Romania, including its network of 19 branches. These have been transferred to the newly-established Intesa Sanpaolo SPA, Bucharest branch.

Following this process, Intesa Sanpaolo SPA currently has in its portfolio all the loans and deposits opened at Veneto Banca Romania. The lender’s employees have all been transferred to Intesa.

The Intesa Sanpaolo group is now present in Romania with two entities, namely Intesa Sanpaolo Bank Romania SA, with 30 units, and Intesa Sanpaolo SPA Torino Bucharest Branch, with 19 units.

Intesa Sanpaolo ranked 17th in the local banking system at the end of last year, with assets of RON 4.1 billion (EUR 885 million) and a market share of 1.04%. This transaction is part of the contract signed on June 26, 2017 by Intesa Sanpaolo with the liquidators Banca Popolare di Vicenza and Veneto Banca in Italy.

editor@romania-insider.com