Banca Transilvania
Banca Transilvania, a
bank corporation in
Romania, was founded December
1993 in
Cluj-Napoca by several local businessmen, with an initial capitalization of 2 billion
Romanian lei (ROL) (approximately US$1 million); initial capitalization was 79% Romanian and 21% foreign.
The bank first opened for business
February 16,
1994, with the opening of its headquarters in Cluj-Napoca. Its branch network extended to 63 locations in December 2003 and 215 locations in 2006, of which 6 are in the city of Cluj-Napoca. The institution is listed on the
Bucharest Stock Exchange (tag TLV).
The bank is currently (December 2003) in the process of reorganizing as
Grupul Financiar BT ("The BT Financial Group") which will also include companies in which the bank has invested: insurance and re-insurance company
SAR Transilvania),
Leasing Transilvania (which will become
BT Leasing),
Compania de Brokeraj Transilvania Capital Invest (which will become
BT Securities). Also,
BT Direct will round out the offering in the consumer finance sector. Banca Transilvania has majority positions in all of the other institutions involved; some are wholly owned subsidiaries.
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Banca Transilvania
