The merger between UniCredit Bank and Alpha Bank România has been concluded, enhancing the UniCredit Group’s presence in Romania across both corporate and retail banking sectors.

In November 2024, UniCredit announced the acquisition of a 90.1% stake in Alpha Bank Romania from Alpha International Holdings, a fully owned subsidiary of Alpha Services and Holdings.

The transaction involved 9.9% of UniCredit Romania’s share capital and approximately €255m ($297.8m) in cash.

This deal is part of the strategic partnership between UniCredit and Alpha Services and Holdings, announced in October 2023.

UniCredit Bank Romania CEO Mihaela Lupu said: “We were delighted that there was a very good energy between our teams, and we complemented each other, managing to become one bank in just nine months.

“Alpha Bank Romania customers, whom I welcome to UniCredit, will enjoy wider range of financial solutions, an extensive network of branches and ATMs, and the top banking technology.”

The newly formed entity is said to hold an 11% share of the market in terms of assets, 13% in loans through UniCredit Consumer Financing, and 11% in customer deposits.

UniCredit Bank in Romania has a network of around 300 branches.

Additionally, it has a network of 900 ATMs nationwide.

The merged bank employs more than 4,800 people, which includes personnel from Alpha Bank Romania.

UniCredit CEO Andrea Orcel said: “The integration of Alpha Bank and UniCredit in Romania was completed smoothly and in record time, demonstrating once again UniCredit’s ability to decisively and efficiently integrate complex systems and organizations into one at pace, for the benefit of our clients, people, shareholders and all other stakeholders.

“This acquisition and merger of Alpha Bank Romania enables UniCredit to strengthen its market position and unlock new potential for accelerated, profitable growth, both for us and for our customers.”