First Bank is a Romanian bank founded in 1995 as Pater Bank. Since May 2024, the financial institution has been controlled by the Italian group
Intesa Sanpaolo
Intesa Sanpaolo Società per azioni, S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a ...
.
History
Five years after it was founded, Pater Bank was sold in 2000 to
Piraeus Bank
Piraeus Bank () is a Greece, Greek multinational financial services company with its headquarters in Athens, Greece. Piraeus Bank's shares have been listed on the Athens Exchange, Athens Stock Exchange (Athens Exchange, ATHEX) since January 1918. ...
,
and its name was changed to reflect its new owner. Piraeus Bank sold its Romanian subsidiary to
J.C. Flowers & Co. on 28 June 2018, who changed the bank's name to First Bank on 12 September 2018.
As of the following month, its shareholding structure became as follows:
* J.C. Flowers & Co. - 76.1%
*
EBRD
The European Bank for Reconstruction and Development, shortened to EBRD ( French: ''Banque européenne pour la reconstruction et le développement'' or ''BERD''), is an international financial institution founded in 1991 in Paris. As a multilat ...
- 19%
* Natural persons - 4.9%
In April 2020, First Bank acquired and absorbed the
Romanian
Romanian may refer to:
*anything of, from, or related to the country and nation of Romania
**Romanians, an ethnic group
**Romanian language, a Romance language
***Romanian dialects, variants of the Romanian language
**Romanian cuisine, traditional ...
subsidiary of
Bank Leumi
Bank Leumi (, lit. ''National Bank''; ) is an Israeli bank. It was founded on February 27, 1902, in Jaffa as the ''Anglo Palestine Company'' as subsidiary of the Jewish Colonial Trust () Limited formed before in London by members of the Zionism, ...
.
[ In May 2024, the bank was acquired by the Italian group Intesa Sanpaolo.
]
See also
* List of banks in Romania
* J.C. Flowers & Co.
References
External links
*
Banks of Romania
2024 mergers and acquisitions
{{Romania-company-stub