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February 8, 2023

EBRD reduces stake in Romania’s Banca Transilvania, down to 8.6pct

The European Bank for Reconstruction and Development (EBRD) has reduced its equity stake in Banca Transilvania, one of the leading banks in Romania. On 22 November, the bank sold 104.5 million shares, representing 2.9 per cent of Banca Transilvania’s share capital, through a private placement led by the investment firm Wood & Company, according to an EBRD press statement released on Wednesday.

Following the sale, the EBRD remains Banca Transilvania’s largest shareholder, with an 8.6 per cent stake.

‘We are very pleased with our longstanding partnership with Banca Transilvania and the company’s outstanding achievements over the past years, notably its strong position as an innovative and fast-growing locally owned bank in Romania. The bank’s robust and adaptable business model, its proven ability to face headwinds with speed, openness and transparency, and its committed and highly experienced management make Banca Transilvania a strong, resilient and experienced lender,’ EBRD Director for EU Banks Lucyna Stanczak-Wuczynska is quoted as saying in the statement.

EBRD acquired a 15 per cent stake in the Romanian lender in 2001 to strengthen Banca Transilvania’s capital base and support the expansion of its activities and loan portfolio. Since then Banca Transilvania has grown into the third-largest bank by assets in Romania..

EBRD is a leading institutional investor in Romania, having invested over ?7.3 billion to date in 384 projects and mobilised more than 14 billion euros from other sources of financing. Its operations in Romania are headed by Matteo Patrone.

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