M&A alert. Intesa Sanpaolo acquires the branch network of Veneto Banca in Romania

Intesa Sanpaolo has announced the acquisition of the branch network of Veneto Banca in Romania, as part of an international deal.

“As head of Intesa Sanpaolo’s International Subsidiary Banks Division it a great pleasure to welcome to our group the customers and employees of the former Veneto Banca Romanian branch network” said Ignacio Jaquotot, head of the International Subsidiary Banks Division at Intesa Sanpaolo .

“I have been working and living in Romania for many years and I am sure that this acquisition will help to further develop the already good business relationships between Italy and Romania,” said Marco Capellini, CEO of Intesa Sanpaolo Bank Romania.

Intesa Sanpaolo operates in Romania with two units: Intesa Sanpaolo Bank Romania SA, a Romanian licensed bank with Head Office in Bucharest and more than 30 branches all over Romania and Intesa Sanpaolo SpA Romanian branch network (former Veneto Banca’s Romanian branch network), a network of more than 20 branches.