In a strategic move to bolster its influence in the Eastern European banking sector, UniCredit has acquired a considerable 90.1% stake in Alpha Bank Romania from Alpha Services and Holdings. This acquisition is valued at a significant €255 million in cash and includes a 9.9% share in UniCredit’s Romanian subsidiary. With this transaction, UniCredit is set on an ambitious path to strengthen its foothold in Romania, a country with untapped banking potential. Overseeing this transition will be Antoaneta Curteanu, UniCredit’s current head of retail banking in Romania, who is poised to take on the role of executive president at Alpha Bank Romania, ensuring a seamless integration process.
The strategic move between two banking giants involves a phased integration of Alpha Bank Romania into UniCredit, with full merger plans slated for completion by late 2025. In the interim, Alpha Bank Romania’s customers will experience no immediate changes, maintaining the stability and confidence essential in banking relationships. Post-integration, UniCredit, through its Romanian subsidiary, is expected to rank as the third-largest banking group in Romania, aiming for a commanding 12% market share. This merger aligns with UniCredit’s broader ‘UniCredit Unlocked’ strategy, which targets an increased capital allocation across Eastern Europe by 4% annually since its inception in 2022.
This acquisition also marks a continuation of UniCredit’s strategic regional expansion efforts. In line with its robust growth trajectory, UniCredit has also made notable investments, like its strategic move into Commerzbank. By strengthening its position in Central Europe, UniCredit anticipates returns to exceed 16% this year. The acquisition is more than just a financial transaction; it underscores UniCredit’s commitment to widening its presence while ensuring a smooth transition for all stakeholders involved. This determination to grow while maintaining service stability reflects UniCredit’s broader vision of regional dominance and customer-centric growth.
