>>> Piraeus Bank Romania was bought from the Greeks and became First Bank
By Andra Beltz
The renaming and rebranding process will commence in late 2018 and will unfold over the following months. The transition to the new brand will gradually become gradually visible during this time. The bank’s business will follow its usual course. All the contractual agreements between the bank and its customers will remain unaffected and continuing.
Dominic Bruynseels, Executive President, Piraeus Bank Romania, said: “This is a new beginning, a journey that will involve innovation, dynamism and teamwork in a way that will lead us to better banking for the benefit of our customers. We are supported by an acclaimed international investor, whose financial capability and extensive expertise enable us to embrace the modern banking standards. We shall continue to improve our offer of services and products, so that they align to the expectations of our customers. At the same time, we shall pay great attention to the feedback coming from our clients in order to propose new services and products that will be useful for them. The “First Bank” brand places the customers at the centre of everything we do and expresses our aim to achieve excellence, built on passion, professionalism and integrity. ”
On June 28th, 2018, Piraeus Bank Romania was acquired by JCF IV Tiger Holdings S.àr.l, an entity which is part of the group JC Flowers & Co.
This was the first investment made by the investment fund on the Romanian market and in Central and Eastern Europe.
Based in Bucharest, Piraeus Bank Romania provides a broad range of products and services targeting both domestic and international customers, including retail, SME and corporate banking services. PBR operates 100 branches, employs 1200 professionals and has approximately 130,000 active clients. For more information, please visit www.piraeusbank.ro.
J.C. Flowers & Co. is a leader in private equity investment services specializing in global investments in the financial services industry. Founded in 1998, J.C. Flowers & Co. has invested more than $15 billion in 53 portfolio companies across 18 countries, in many sub-sectors of the financial industry, including banking, insurance, reinsurance, specialized financial services and asset management services. JC Flowers & Co. manages assets worth approximately $6 billion and has offices in New York and London.