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Dec 13, 2017 15:49 EEST
December 13 (SeeNews) - Italy's Intesa Sanpaolo said on Wednesday it has completed the transfer of certain assets and liabilities from the former Romanian branch of bankrupt Italian bank Veneto Banca, including its 19-agencies network, to the newly-established Intesa Sanpaolo SPA Torino Bucharest Branch.
As a result of the transfer, Intesa Sanpaolo SPA Torino Bucharest Branch has acquired a portfolio of loans and all the deposits of Veneto Banca in Romania, Intesa Sanpaolo said in a press release.
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Furthermore, the employees of Veneto Banca were also transferred to Intesa Sanpaolo SPA Torino Bucharest Branch.
"Former Veneto Banca customers now can benefit from the strength and reliability of one of the largest European banking Groups," the bank said.
Currently, Intesa Sanpaolo Group is present on the Romanian market through two different entities: Intesa Sanpaolo Bank Romania SA with 30 agencies and Intesa Sanpaolo SPA Torino Bucharest Branch with 19 agencies.
This transaction comes after on June 26 Intesa Sanpaolo and the liquidators of the former Banca Popolare di Vicenza and Veneto Banca in Italy signed a contract under which Intesa acquired certain assets and liabilities of bankrupt Italian bank Veneto Banca, including its assets in four countries in Southeastern Europe - Albania, Croatia, Moldova and Romania.
Intesa Sanpaolo Group operates a network of 5,900 branches, which serve 20 million clients in 40 countries around the world.
In Romania, Intesa Sanpaolo focuses on customers primarily in the corporate and SME segments, financing local and foreign entrepreneurs.
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