Piraeus Bank Romania to become First Bank

Piraeus Bank Romania will become First Bank, according to a decision of the bank's Board of Directors, that met on September 12, reads a press release sent by the bank. 

According to the document, the rebranding process will kick off at the end of 2018 and will continue in the following months. The transition to the new brand will be gradually visible throughout the entire process. The bank's activity will carry on as usual. All contractual commitments signed between the bank and its clients remain active and will not be affected by the adoption the new brand identify, the quoted source specifies. 

"We have the support of an international scale investor, whose financial force but also expertise allow us to embrace the standards of modern banking. We will continue to improve on the current offer of services and products, so that they will align to the demands of local clients. At the same time, we will be paying attention to their signals so as to propose those new services and products that will prove useful to them. The "First Bank" brand talks about the client as the center of our interest, about the desire for performance, built with passion, professionalism and integrity," CEO of Piraeus Bank Romania Dominic Bruynseels stated in the press release. 

On 28 of June 2018, Piraeus Bank Romania was acquired by JCF IV Tiger Holdings S.ar.l., an entity which belongs to the JC Flowers & Co group. This is the first investment that the fund is makeing on the Romanian market and in Central and Eastern Europe. 

Piraeus Bank operates through 100 banking units, employs 1,200 specialists and has approximately 130,000 active clients.