Orange Money sells its Retail Business unit to Alpha Bank Romania

By Gloria Methri

Alpha Bank Romania has signed a business transfer contract with Orange Money Romania, agreeing to take over its retail activities including the client portfolio, top digital assets (mobile application), credit card portfolio, and employees.

Through this acquisition, Alpha Bank Romania continues its strategy of increasing the value offered to its clients and consolidating its presence on the market.

The transaction will bring together the banking expertise of Alpha Bank Romania with the digital skills of Orange Money, allowing the bank to become one of the key players in digital banking in Romania.

By integrating Orange Money’s Romanian client portfolio, Alpha Bank Romania will expand its own client base and strengthen its position in the market. Orange Money customers will continue to benefit from the existing products and services, and, in addition, they will gain access to the range of services offered by Alpha Bank Romania.

The bank will also be able to provide consumers with top digital solutions through the integration and development of the Orange Money mobile application.

Sergiu Oprescu, Executive President of Alpha Bank Romania and General Manager of the Alpha International Network Bank Group said, “The acquisition is part of the bank’s strategy to strengthen its position on the market and offer clients a superior digital experience. We are delighted to benefit from the strengths of Orange Money Romania and happy for the opportunity to build an ecosystem of digital solutions for our clients. The strategic thinking, flexibility, and long-term vision of Alpha Bank Romania are thus complemented with an infusion of agility and expertise in the field of top digital financial services.”

Haris Hanif, CEO of Orange Money Romania added, “Our strategic approach has always had in mind the integration of the application and its products into a banking ecosystem and, in order to achieve this objective, we signed the transfer of our retail business to Alpha Bank Romania. Alpha Bank’s experience will provide continuity to our clients, and their banking products will enrich the suite of services that Orange Money users have access to today.”