Merger of Banca Carpatica, Patria Bank, postponed until 1 February 2017

Newsroom 26/12/2016 | 13:04

The merger of Banca Carpatica and Patria Bank was postponed for one month, until 1 February 2017. The two entities will function as one entity starting February, provided that the court, due to issue a decision in the first half of January, will give the merger the green light.

As a result of delays in completing the final steps prescribed by law to implement the merger, the date on which the merger becomes effective is 1 February 2017. That is why, until 31 January 2017 we will continue to function as two separate banks; February will be the first month in which we will operate as one bank, ” a message posted on the website dedicated to the merger of the two banks reads.

As a result, all products, services and contractual conditions applicable to customers are maintained in their current form until 31 January 2017. The new general business conditions are applicable after that date. Bank representatives also state that after Christmas all bank customers will be informed directly about the delay in the schedule of the merger.

Patria Bank, which operates under the brand Nextebank since March 2016, received on 29 November approval from the National Bank of Romania (BNR) for merger with Banca Carpatica. The future bank will operate under the name Patria Bank and will be listed on the Bucharest Stock Exchange (BVB). The stocks of the Banca Comerciala Carpatica (BCC) will be renamed.

The new bank will have over 300,000 clients, with approximately 200,000 being active clients. 75 percent of them come from the Carpatica network, while Patria Bank contributed with 50,000 active clients.

Georgeta Gheorghe

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