Bucharest Appeals Court OKs Merger Between Banca Comerciala Carpatica And Patria Bank

Patria Bank and Banca Comercială Carpatica will become a single bank which will still be listed on the Bucharest Stock Exchange and will be named Patria Bank. The new bank will be present in 73 towns and cities across Romania, through 111 units, has over 240,000 clients and RON3.816 billion in assets.

The two banks are expected to confirm the date of the merger this week.

In the spring of 2016, Patria Bank became majority shareholder of Banca Comerciala Carpatica (BCC.RO), holding over 64% of the shares of BCC, which became a member of Patria Bank Group, majority held by private equity fund Emerging Europe Accession Fund (EEAF).

On November 29, 2016, the central bank approved the merger through absorption between Banca Comerciala Carpatica, as absorbing bank, and Patria Bank.

The main investors of Patria Bank Group are the European Bank for Reconstruction and Development (EBRD), the European Investment Fund (EIF), part of the European Investment Bank Group), the German Investment and Development Corporation (DEG), part of bank group KFW BSTDB (the Black Sea Trade and Development Bank (BSTDB).

Patria Bank Group includes Patria Bank, Banca Comerciala Carpatica, Patria Credit IFN, SAI Carpatica Asset Management and SAI Intercapital Invest.

 

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