Banca Transilvania will open in November a branch in Rome, due to the large number of Romanians living in the Italian capital, and will terminate on December 1st its operations in Cyprus because of the unfavourable economic context over a medium-term, the bank announced yesterday. The preparations for opening the Italian branch are under way. “The decision of Banca Transilvania to expand in Italy is based on the large number of Romanians living in Rome: approximately 200,000, respectively about 10,000 companies owned by the representatives of the Romanian community in the region,” reads the communique. The bank will provide to its customers in Italy – both natural and legal persons – products and services such as deposits, loans, mobile and internet banking, cards, SMS alert, the possibility to pay invoices to Romania-based providers, cash transfers via Western Union, as well as dedicated packages of products. The Cyprus branch opened in October 2007 for the companies registered in this country which have operations in Romania.