The planned business combination of UniCredit and HVB would further strengthen the Group’s position in Romania. „Our Romanian banking subsidiary HVB Bank Romania is highly profitable. The merger with Banca Tiriac will significantly strengthen our position. This means that we are very well positioned for further growth,” says BA-CA’s CEO Erich Hampel.
BA-CA has been active in Romania through its subsidiary HVB Bank Romania since 1998. HVB Bank Romania is currently the seventh-largest local bank, with total assets of EUR 1.4 billion, 370 employees, 13 branches and some 38,000 customers. In June, Bank Austria Creditanstalt signed an agreement to merge HVB Bank Romania with Banca Tiriac. The new bank will have total assets of EUR 2.1 billion, 73 branches and over 720,000 customers. It will be number 4 in Romania. With a market share of 7.5 per cent, the new bank will rank ahead of CEC, the Romanian savings bank (5.9%, number 5).
Within HVB Group, Bank Austria Creditanstalt is responsible for business in the markets of Central and Eastern Europe (CEE). The bank operates the leading network in the region, serving more than 4.6 million customers in 11 countries. BA-CA has won numerous awards in recognition of its CEE competence. „Euromoney” and „The Banker” have repeatedly named Bank Austria Creditanstalt „Best Bank in CEE” and „Bank of the Year in CEE”, respectively.
