Alpha Bank Romania, a subsidiary of the Greek Alpha Bank Group, is set to acquire the Romanian retail business unit of Orange Money for an undisclosed sum.
Facts
- Alpha Bank Romania, one of the top 10 largest banks in Romania, will acquire Orange Money Romania’s customer portfolio, digital assets, credit card portfolio, and digital banking specialists through a business transfer agreement.
- Orange Money, launched by telecoms giant Orange in 2016, offers digital banking services such as current and credit accounts, NFC payments, and currency transfers exclusively through a mobile app.
- Orange Money’s strategic goal has always been integration into a banking ecosystem, leading to the transfer of its retail business to Alpha Bank Romania.
- Alpha Bank Romania aims to strengthen its market position and enhance its digital banking offerings for customers through this acquisition.
- The transaction is pending regulatory approval and customary closing conditions.
