Share this event on:
  • LinkedIn

Recomend this page

Thank you, we sent your recommendation to the desired recipient.

Sorry, this functionality is not available right now.
Please try with this link. Thank you.

UniCredit: completion of the merger of HVB Bank Romania and Banca Comerciala Ion Tiriac resulting in the creation of the 4th largest Romanian bank

UniCredit announces that the merger of HVB Bank Romania and Banca Comerciala Ion Ţiriac has been finalized on 1 September 2006. The newly created bank operates under the name HVB Tiriac Bank and ranks fourth in the Romanian banking market with total assets of EUR 2.58 billion and a market share of approximately 6.5%. HVB Tiriac Bank combines the strengths and best practice of the two banking institutions: the approximately 600,000 clients of HVB Tiriac Bank will benefit from new opportunities such as highly competitive products and banking services of international standards both at corporate and at retail level.

The merger between HVB Bank Romania and Banca Comerciala Ion Tiriac is a first step in the integration process of the subsidiaries of UniCredit Group in Romania. Bank Austria Creditanstalt, the CEE sub-holding of UniCredit Group, will be the main shareholder in the new bank. In the context of the reorganization process of UniCredit's activities in Romania, the next step will be the integration between HVB Tiriac Bank and UniCredit Romania.

With a market capitalization of approximately €65 billion, ranking among the top financial groups in Europe, UniCredit has a presence in 20 countries worldwide, with over 28 million clients and 7,000 branches, 134 thousand employees and total assets of approximately €804 billion as of 30 June 2006.

Milan, 6 September 2006


Media Relations:
Tel. +39 02 88628236; e-mail:
Investor Relations:
Tel. + 39 02 88628715; e-mail: