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Romanian c-bank approves sale of Idea Bank to Banca Transilvania - Getin Holding

Romanian c-bank approves sale of Idea Bank to Banca Transilvania - Getin Holding Source: Idea Bank

BUCHAREST (Romania), September 14 (SeeNews) - Polish financial holding company Getin said that Romania's central bank BNR has approved the sale of its Bucharest-based subsidiary Idea Bank Romania to local lender Banca Transilvania [BSE:TLV].

Getin Holding received BNR's approval on September 10, it said in a regulatory disclosure on Monday.

The approval is one of the conditions for the closing of the deal specified in the conditional sale agreement signed on June 2.

Getin holding said that it will inform the public about the fulfilment of further conditions in separate reports.

In June, Banca Transilvania announced that its board of directors has approved the acquisition of the total interest in Idea Bank Romania held by Getin for 43 million euro ($50.7 million). As a result of the transaction, Banca Transilvania will acquire holdings in the companies which are part of the Idea Bank Group in Romania - Idea Leasing IFN SA and Idea Broker de Asigurare SRL, the bank said at the time.

Polish financial holding company Getin said in November that it intends to sell Idea Bank Romania 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. Idea Bank offer products and services to both individuals and SMEs through 33 branches and 3 non-cash units in Romania.

Blue-chip Banca Transilvania is the largest Romanian privately-owned bank. Its shares traded 0.19% lower at 2.6850 lei ($0.64/ 0.54 euro) as at 1010 CET on Tuesday on the Bucharest Stock Exchange.

($=0.8483 euro)