Credit Europe Bank Romania will be absorbed into the Dutch bank that holds the majority stake.
Credit Europe Bank (Romania) S.A. will be the absorbed company in the cross-border merger by absorption by Credit Europe Bank N.V., the absorbing company. Credit Europe Bank N.V. (CEB N.V.) is based in the Netherlands and is the majority shareholder of Credit Europe Romania, with 99.36% of the shares.
Credit Europe Bank N.V. is part of the Turkish group FİBA Holding A.Ş., controlled by the Özyeğin family. The merger proposal is to be voted on by shareholders on March 5. The date of the merger is to be determined at a later date.
In June 2023, CEB N.V. had an exposure of 1.02 billion euros on Romania, of which 793 million euros balance sheet exposure, of which 580 million euros loans.
The figures are down compared to the end of 2022, when the exposure to Romania was 1.15 billion euros, of which 929 million euros were balance sheet exposure, of which 632 million euros were loans. The exposure to Romania represents approximately one fifth of CEV N.V.’s total risk exposure.
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