The merger of UniCredit Group banking subsidiaries in Romania, HVB Tiriac Bank and UniCredit Romania was finalised on June 1 by creating a new financial institution, UniCredit Tiriac Bank.

UniCredit Tiriac Bank is the fourth largest bank in Romania with €3.7bn total assets, more than 600,000 customers and an extensive network of 132 branches.

The new bank’s offer combines the strengths and the best practice of Banca Tiriac, HVB Bank and UniCredit Romania. HVB Bank had solid partnerships with large corporates and multinationals, Banca Tiriac was particularly strong on the individual customers segment and SMEs, while UniCredit Romania focused on Romanian medium-sized companies.