First Bank (Romania)

Independent
(1995–2000)
Piraeus Bank
(2000–2018)
J.C. Flowers & Co.
(2018–2024)
Intesa Sanpaolo
(2024–present)

Websitefirstbank.ro

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.

History

Five years after it was founded, Pater Bank was sold in 2000 to Piraeus Bank,^[1] 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.^[2]

As of the following month, its shareholding structure became as follows:^[3]

J.C. Flowers & Co. - 76.1%
EBRD - 19%
Natural persons - 4.9%

In April 2020, First Bank acquired and absorbed the Romanian subsidiary of Bank Leumi.^[1] In May 2024, the bank was acquired by the Italian group Intesa Sanpaolo.

References

^ ^a ^b "REGISTRUL INSTITUTIILOR DE CREDIT - Banci". bnr.ro. BANCA NATIONALA a ROMANIEI. Retrieved 28 August 2014.
^ "First Bank".
^ "BERD confirmă intrarea în acţionariatul Piraeus Bank România, alături de J.C. Flowers. Banca preia 19% din capital, iar fondul american de investiţii 76%". Ziarul Financiar (in Romanian). 2018-07-18. Retrieved 2018-12-30.