UniCredit Tiriac Bank S.A. (“UniCredit Tiriac Bank”) and The Royal Bank of Scotland plc, Edinburgh, Romania Branch (“RBS Romania”) have agreed the transfer of the Corporate business of RBS Romania to UniCredit Tiriac Bank.
The agreement refers to a total portfolio of aggregate assets of around EUR 260 million and corporate deposits of around EUR 315 million. RBS Romania's client portfolio consists of over 500 Mid Market and Large private Corporates, local and international, as well as public and financial institutions. RBS Romania staff will transfer to UniCredit Tiriac Bank, subject to consultation with the social partners.
The transaction will be finalised after receipt of the necessary approval by the Competition Council. The transfer completion date is envisaged to be in the coming months. The financial terms and the conditions of the transaction are not to be disclosed.
“This new portfolio acquisition represents another natural step for us, as UniCredit – leading European banking group – is committed to sustainable growth on the Romanian market. After the acquisition of the Retail and Royal Preferred Banking business from RBS Romania last year, the full integration of the Corporate portfolio is a very suitable choice, as both banks share common values of business excellence and customer centricity.
Corporate represents a core business for us and this development perfectly fits our strategy in the medium and long-term, while at the same time consolidating our leading position in the market”, declared Răsvan Radu, CEO UniCredit Tiriac Bank and Country Chairman of UniCredit in Romania.
“We are glad that we are now in the position of announcing the transfer of our corporate business to UniCredit Tiriac Bank. We are confident that this will bring a lot of benefits and added value to our clients. The most important selection criteria that we used in choosing our partner to which to transfer our business, clients and people was the level of their product and service offering, as well as their commitment to the Romanian market. Our customers are very important to us and we would like to ensure them that UniCredit Tiriac Bank will take over and build on the relationship we have developed with them. Until the transfer completion date, we remain committed to providing each client with the same quality service as they are used to” said Henk Paardekooper, CEO of RBS Romania and Hub Executive of RBS Central and Eastern Europe.
RBS Romania and UniCredit Tiriac Bank are committed to jointly ensure a smooth transition of customer accounts and banking products. All customers will be kept fully informed of the transfer process and its timing. There will be no change to the clients’ contractual conditions and to the technical details of their respective products and services. Once the transfer is completed, clients will benefit from both the existing base built by RBS and of the partner’s contribution that will result in an enhanced customer experience.
UniCredit Tiriac Bank is part of UniCredit, leading European bank with the largest presence in CEE. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products to all clients segments through 188 branches. The bank has a client centric policy and strives to be an easy to deal with partner and an active part of the communities in which it operates.
UniCredit Group is also present in Romania through UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).
The Royal Bank of Scotland plc, Edinburgh, Romania Branch (RBS Romania) is part of the Royal Bank of Scotland Group plc. The bank has been present on the local market since 1995, being one of the first foreign banks to operate in Romania. .
