Vista Bank recently announced signing the acquisition of Credit Agricole Romania, as part of an agreement with Credit Agricole Group for the purchase of 100% of the shares in the Romanian subsidiary.
The finalization of the acquisition is still subject to the approvals that must be given by the Romanian National Bank, and the Romanian Competition Council. The approvals of both state bodies are estimated to be granted and the acquisition completed until the end of the first semester of 2021.
Credit Agricole Romania has a network of 14 branches across Romania, and total assets of 535 million euros.
Following the acquisition’s completion, Vista Bank will hold assets of over 1.2 billion euros, loans of approximately 750 million euros, deposits of approximately 1.1 billion euros and over 105 million euros of Common Equity Tier 1 capital (CET1).
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Vista Bank is active on the Romanian banking market since 1998, has a network of 31 branches and 320 employees, and offers a complete range of financial products and services.
Referring to the transaction, Chairman of the Board of Vista Bank, Stavros Lekkakos, declared: “Acquisition of Credit Agricole Romania is an important moment for Vista Bank and is in line with our strategy to grow and further strengthen our market position. We focus on supporting the Romanian economy, by generating value for all stakeholders, customers, and employees. We would like to thank the representatives of Credit Agricole for their cooperation and professionalism in this transaction”.