Alior Bank, through its Romanian branch Alior Bank Warsaw – Bucharest Branch (Alior Romania), as the transferor, and Patria Bank, as the transferee, announced that on June 20, 2024, a contract was signed for the transfer of a portfolio of consumer loans with a net balance of RON 97 million (EUR 20 million) at April 30, 2024.

The loan portfolio includes as clients approximately 4,000 natural persons and is made up of performing unsecured consumer loans, denominated in local currency. 

The transaction is estimated to be implemented in September 2024, contributing to the growth of the consumer credit portfolio and the number of individual clients of Patria Bank.

"This acquisition represents an important step in Patria Bank's development plans and, together with the bank's organic growth, contributes to strengthening its profitability," said Valentin Vancea, director general of Patria Bank.

Patria Bank said that it will continue to invest in the development of its services and products to effectively respond to customer requirements and expectations.

Patria Bank is the 17th largest Romanian bank, with RON 4 billion in assets at the end of 2023 and a 0.5% market share by assets. Listed on the Bucharest Stock Exchange, Patria Bank has a national physical presence and offers basic banking products and services 100% online to all customers. 

The Patria Bank Group has as its majority shareholder the Emerging Europe Accession Fund (EEAF), a private equity fund whose main investors are the EBRD (European Bank for Reconstruction and Development), EIF (European Investment Fund, part of the European Bank Group for Investments), DEG (Development Bank, part of the KFW banking group) and BSTDB (Development Bank of the Black Sea Region).

Alior Romania had RON 279 million of assets at the end of 2023 and a market share of 0.03%. It was the 30th of the 32 banks in Romania by assets.

iulian@romania-insider.com

(Photo source: Patria Bank)