Banca Transilvania opens Italy subsidiary

Romania lender Banca Transilvania (BT) opened last week a subsidiary in Rome, in a bid to attract new Italy-based retail and business customers, focusing primarily on Romanians.

Horia Ciorcila, president of BT’s administration board, commented the international expansion is a “business opportunity” for the lender.

“The relations between Romania and Italy along with the strategy we have for BT Italy will contribute for sure to the organic growth of the bank,” said Ciorcila.

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BT will provide the full array of banking services for its Italian subsidiary, including loans and deposits along with mobile and internet banking or money transfer options.

The Rome-based unit is the first subsidiary operated by a Romanian lender abroad.

Ovidiu Posirca