UniCredit Tiriac Bank commences Romanian operations
UniCredit Tiriac Bank, the newly established financial institution created from the merger of UniCredit Group's Romanian banking subsidiaries HVB Tiriac Bank and UniCredit Romania, has officially started operations in the eastern European country.
The new finance firm is the fourth largest bank in Romania, with E3.7 billion in assets and more than 600,000 customers across an extensive network of 132 branches. The new bank's offer combines the strengths of Banca Tiriac, HVB Bank Romania (which were merged on September 1, 2006, thus creating HVB Tiriac Bank) and UniCredit Romania. HVB Bank Romania had solid partnerships with large corporates and multinationals, Banca Tiriac was particularly strong in the individual customers segment and with SMEs, while UniCredit Romania focused on Romanian medium-sized companies. UniCredit Group is an established player in the European finance field and operates in 18 European countries including Turkey, the Czech Republic and Poland.
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