Merger between Banca Comerciala Carpatica, Patria Bank approved by court
The Bucharest Court of Appeal has approved a merger between Banca Comerciala Carpatica and Patria Bank.
The merged bank organization will be listed on the stock exchange under the name Patria Bank, according to a Banca Comerciala Carpatica press release. The bank will offer 111 branches in 73 cities in Romania.
The merger is expected to complete May 1 once the court confirms all necessary legalities of shareholder decisions of both banks.
Customer service hours have been extended until 8 p.m. Monday through Friday to answer customers' questions.
A year ago, Patria Bank became the majority shareholder in Banca Comerciala Carpatica, owning 64 percent of all shares.
After the merger, the new entity will focus on streamlining customer services and creating a healthy environment for local entrepreneurs.
Organizations in this story
Banca Comerciala Carpatica Bucharest, Romania Bucharest, Bucharest