First Bank acquisition of Leumi Bank Romania

Overview:

• Romanian bank First Bank, owned by US investment firm JC Flowers & Co, has acquired the Romanian subsidiary of Israeli Bank Leumi.
• This is JC Flowers & Co's second banking acquisition in Romania in a year, having acquired Piraeus Bank in July 2018.
• The transaction is subject to approval by the National Bank of Romania and the Romanian Competition Council.

Rajeeb Gurung - Researcher