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Report: Intesa completes transfer of Veneto's Romanian ops to new branch

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Report: Intesa completes transfer of Veneto's Romanian ops to new branch

Intesa Sanpaolo SpA completed the transfer of certain assets and liabilities, including the office network, from the Romanian branch of Veneto Banca SpA to the newly established Intesa Sanpaolo SPA Torino Bucharest Branch, SEENews reported Dec. 13.

Following the transfer, Intesa Sanpaolo SPA Torino Bucharest Branch holds a portfolio of loans and all deposits of Veneto Banca's former Romanian branch. The transfer also included the employees of Veneto Banca's Romanian unit.

Intesa Sanpaolo is now present in Romania via Banca Comerciala Intesa Sanpaolo Romania SA with 30 outlets and Intesa Sanpaolo SPA Torino Bucharest Branch with 19 outlets.

Intesa Sanpaolo signed a contract in June to acquire certain assets and liabilities of Veneto Banca, including the lender's assets in Albania, Croatia, Moldova and Romania, SEENews noted.