UniCredit Tiriac Bank
Encyclopedia
UniCredit Ţiriac Bank is the result of several mergers and acquisitions on the Romanian banking market, starting with the creation in 1997 of a Demirbank
subsidiary in Bucharest. The first takeover of Demirbank SA România assets was concluded in 2001 when rising Unicredit
group purchased 99,94% of shares amids a financial crisis in the Turkish market and rebranded the bank as Unicredit Romania S.A. At European level, several mergers brought under the Unicredit Group umbrella two other major banks with Romanian subsidiaries, namely HypoVereinsbank and Bank Austria Creditanstalt
. These two acquired the shares of the initial "Banca Comercială Ion Ţiriac" established by Romanian businessman Ion Ţiriac
and transitioned under "HVB Romania" and then "HVB Tiriac" brands. A merger at national level brought under a single company the assets of these banks and the brand name of the new company has been established as "Unicredit Ţiriac Bank" S.A. Among major shareholders, Redrum International Investments B.V. and Vesanio Trading Limited are associated with Ion Ţiriac, who retains a major influence in the Romanian business environment.
Demirbank
Demirbank T.A.Ş. is a bank purchased on October 30, 2001 by HSBC from the Turkish Banking Regulator for £248 million.Demirbank was merged with the bank’s existing subsidiary in Turkey, HSBC Bank A.Ş. on December 14, 2001, creating a combined business with a balance sheet of £1.4 billion and capital...
subsidiary in Bucharest. The first takeover of Demirbank SA România assets was concluded in 2001 when rising Unicredit
UniCredit
UniCredit SpA is an Italy-based, pan-European banking organization, with aprox 40 million customers and operations in 22 countries.- Geography :...
group purchased 99,94% of shares amids a financial crisis in the Turkish market and rebranded the bank as Unicredit Romania S.A. At European level, several mergers brought under the Unicredit Group umbrella two other major banks with Romanian subsidiaries, namely HypoVereinsbank and Bank Austria Creditanstalt
HypoVereinsbank
UniCredit Bank Aktiengesellschaft is the sixth-largest private German financial institution, with a strong presence in Bavaria. The company is based in Munich, and together with Deutsche Bank, Dresdner Bank, Commerzbank and Deutsche Postbank, it belongs to the Cash Group...
. These two acquired the shares of the initial "Banca Comercială Ion Ţiriac" established by Romanian businessman Ion Ţiriac
Ion Tiriac
Ion Țiriac is a Romanian former tennis player and businessman. He is also the current owner of the Mutua Madrileña Madrid Open.-Sports career:...
and transitioned under "HVB Romania" and then "HVB Tiriac" brands. A merger at national level brought under a single company the assets of these banks and the brand name of the new company has been established as "Unicredit Ţiriac Bank" S.A. Among major shareholders, Redrum International Investments B.V. and Vesanio Trading Limited are associated with Ion Ţiriac, who retains a major influence in the Romanian business environment.
Shareholders
- 50.55 % Bank Austria Creditanstalt AGBank AustriaUniCredit Bank Austria AG is a Central and Eastern European bank, 96.35% owned by UniCredit Group.BA-CA's history goes as far back as 1855, the year the Creditanstalt was founded. In 1991, Zentralsparkasse und Kommerzialbank and Oesterreichische Laenderbank merged to form Bank Austria. In 1997,...
- 24.83 % Redrum International Investments B.V.
- 20.22 % Vesanio Trading Limited
- others