The merger plan of the Commercial Bank Carpatica with Patria Bank has received the preliminary approval of the National Bank of Romania (BNR), allowing the two banks to start the final formalities of registering the new bank and start the necessary operations for the effective integration, says a release of Patria Bank.
„We are glad that the merger project has been preliminary approved by the National Bank and we are optimistic that the positioning process of the new bank on an increasing path will be accelerated starting 2017, after the effective implementation of the merger,” said Horia Manda, the president of the Administration Council of Commercial Bank Carpatica and Patria Bank.
According to the bank, in the following period all the necessary actions will be developed to integrate the two banks and the preparations for a single bank, a special attention is given to the easing of transaction for clients and partners.
Patria Bank Group is owned by the Investments Fund Emerging Europe Accession Fund (EEAF), a private equity fund whose main investors are the EBRD European Bank for Reconstruction and Development, The European Investments Fund, The Development Bank part of KFW group and the Black Sea Trade and Development Bank (BSTDB).
The Patria Bank Group comprises Patria Bank SA, Commercial Bank Carpatica SA, Patria Credit IFN SA, SAI Carpatica Asset Management and SAI Intercapital Invest SA.