The completion of the sale of 90.1% of Alpha Bank Romania to UniCredit S.p.A., which was announced today, and the subsequent merger between Alpha Bank Romania and UniCredit Romania seal the significant and rapid progress in the implementation of the strategic cooperation between Alpha Bank and UniCredit Groups.

The joining of the two banks' forces in Romania has been one of the key pillars of the Alpha Bank-UUniCredit strategic cooperation. The completion of this complex and demanding transaction within just one year from its announcement, following the relevant approvals of the European and Romanian supervisory authorities, confirms the excellent cooperation between the management and executives of the two groups. The legal and operational merger of the two banks in Romania is expected to take place within 2025.

BENEFITS

It is noted that the completion of the deal in Romania brings multiple benefits to Alpha Bank, which:

• Acquired 9.9% of the share capital of UniCredit Romania, and after the completion of the merger between Alpha Bank Romania and UniCredit Romania, will own 9.9% of the new single banking entity, which will be the third largest, in terms of assets, bank in Romania. Alpha Bank maintains its presence in this growing market and continues to serve its customer base in Romania—including many Greek businesses and Greek individuals—through a larger and more efficient structure.
• It received approximately €255 million in cash that it can reinvest in more profitable activities.
• It strengthens its capital adequacy by 100 bps. and reduces its risk-weighted assets.

STATEMENTS

Andrea Orcel, CEO of UniCredit, said: "This is a decisive step in our strategic partnership with Alpha Bank, allowing us to further strengthen our presence in the country for the benefit of our customers and all stakeholders. The Romanian market is of strategic importance in the growing Eastern European region. With a stronger, efficient bank offering innovative products to a larger customer base, we will be able to increase the support we offer to individuals, SMEs and local communities. The resulting bank will be able to take advantage of growth opportunities in the market from a position of strength, as well as create new prospects for our employees in Romania and throughout the Group." 

Vassilis Psaltis, CEO of Alpha Services and Holdings, said: "The timely completion of our transaction in Romania underlines the value both parties attach to the strategic agreement announced last year. Together with UniCredit, we are building a leading bank in the Romanian market - reflecting Alpha Bank's long-standing presence in the country - while actively collaborating across multiple sectors to provide leading services to Greek businesses expanding in Europe and European groups looking to invest in Greece." 

Mihaela Lupu, CEO of UniCredit Bank Romania, said: "We are delighted to be working with the Alpha Bank Romania team, continuing to implement our strategy for organic growth while preparing and implementing the merger. During this transition period, we are ensuring the growth of our business, quality customer service and the best possible environment for our employees, focusing on growth and transparency as the merger process progresses." 

Sergiu Oprescu, Executive Chairman of Alpha Bank Romania, said: "I am confident that today's step towards the merger lays the foundation for the creation of one of the most important, dynamic and customer-focused banking organisations in Romania. This new organisation will be a modern and leading force in the industry - one that not only meets but also anticipates the evolving needs of our customers and all stakeholders in an increasingly competitive and rapidly changing business environment."