Poland's Getin Holding plans to sell Idea Bank Romania

Getin Holding has signed an exclusive financial advisory services agreement with investment company Rothschild & Co Poland for the potential sale, it said in a press release on Tuesday.

Idea Bank Romania was established in 1998 as Romanian International Bank. Towards the end of 2013, Romanian International Bank was sold to Idea Bank, a Polish lender controlled by Getin Holding.

The bank is part of Idea Bank Group Romania. According to data published on the bank's website, the group included the following companies at the end of 2019: Idea Leasing IFN, Idea Investment, Idea Broker de Asigurare, Idea Finance and Idea Credite de Consum.

Idea Bank offer products and services to both individuals and SMEs through a territorial network of 33 branches and 3 non-cash units in Romania.

Idea Bank Romania posted a profit of 5.682 million lei ($1.37 million/ 1.17 million euro) in the first half of 2020, higher than the profit of 3.071 million lei recorded in the same period of 2019. The bank's assets totalled 2.462 billion lei at the end of June, compared to 2.364 billion lei year earlier, data posted on the bank's website showed.

Getin Holding was established in Warsaw in 1996 and provides IT, CRM and ERP solutions for companies.

(1 euro=4.8678 lei)