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December 8, 2024
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Top Banks by Assets Romania: A Comprehensive Ranking for 2024

According to the latest report from the National Bank of Romania, the country’s banking sector remains a critical pillar of its national economy, reflecting significant growth and stability within the European financial landscape. The past year has seen notable shifts among the leading banks, driven by organic growth, mergers, and acquisitions.

This article ranks the top banks in Romania by assets, offering a detailed analysis for consumers and businesses alike.

1. Banca Transilvania – BT

Overview: Banca Transilvania (BT) continues to lead the Romanian banking sector, maintaining its position as the largest bank by assets.

Key Strengths:

  • Financial Performance: In 2023, BT reported assets nearing 162 billion RON, marking a substantial increase.
  • Customer Base: BT serves over 3.5 million clients, dominating the retail banking segment.
  • Innovation: BT remains a leader in digital banking with products like BT Pay and a comprehensive suite of online services.

Customer Feedback: Customers appreciate BT’s customer-centric approach and extensive service offerings, making it a top choice for individuals and SMEs.

2. Banca Comercială Română – BCR (Erste Group)

Overview: BCR, part of the Erste Group, is second in the Romanian banking.

Key Strengths:

  • Financial Performance: BCR’s assets reached 108 billion RON in 2023, reflecting a 10% growth.
  • Branch Network: BCR has an extensive network of branches and ATMs, ensuring wide accessibility.
  • Financial Solutions: The bank offers diverse products, including personal loans and investment services.

Customer Feedback: BCR is praised for its comprehensive reach and product diversity, though some users suggest enhancements in digital banking services.

3. CEC Bank

Overview: CEC Bank has made a significant leap, rising from 6th in 2022 to 3rd in 2023.

Key Strengths:

  • Financial Performance: CEC Bank’s assets soared to 83.5 billion RON, a remarkable 35% increase.
  • Market Share: The bank, controlled by the state through the Ministry of Finance, holds a 10.4% market share.
  • Strategic Growth: This rise is attributed to strategic initiatives and enhanced customer engagement.

Customer Feedback: CEC Bank is commended for its rapid growth and increased market presence, attracting a broader customer base.

4. BRD – Groupe Société Générale

Overview: BRD has slipped to the 4th position, reflecting a dynamic competitive landscape.

Key Strengths:

  • Financial Performance: BRD maintains a solid financial standing with substantial assets despite the drop.
  • Corporate Banking: The bank is known for its strong corporate banking division.
  • Digital Services: BRD’s MyBRD mobile app remains popular among users.

Customer Feedback: BRD is recognized for its reliability and robust financial products, although improvements in customer service are suggested.

5. ING Bank

Overview: ING Bank is now the 5th largest bank, maintaining its reputation for innovative banking solutions.

Key Strengths:

  • Financial Performance: ING Bank continues to perform well financially.
  • Digital Innovation: The bank is lauded for its user-friendly digital platforms and innovative services.
  • Customer Focus: ING prioritizes customer satisfaction with personalized banking experiences.

Customer Feedback: Customers favour ING for its digital prowess and customer-centric services.

6. Raiffeisen Bank

Overview: Raiffeisen Bank has fallen to the 6th position yet remains a significant player in the market.

Key Strengths:

  • Financial Performance: The bank maintains solid financial health.
  • Customer Service: Known for excellent customer service, particularly in retail banking.
  • Digital Platforms: Raiffeisen’s Smart Mobile app is widely appreciated.

Customer Feedback: Raiffeisen is often highlighted for its personalized service and reliable digital platforms.

7. UniCredit Bank

Overview: UniCredit Bank, part of the Italian UniCredit Group, is a prominent player in Romania’s banking sector.

Key Strengths:

  • Financial Performance: UniCredit reported robust financial results in 2023.
  • Corporate Services: The bank excels in corporate and investment banking.
  • Technological Advancement: UniCredit’s mobile and online banking services are well-regarded for their security and functionality.

Customer Feedback: UniCredit Bank is valued for its vital corporate banking services and robust digital solutions, though some customers find its fees higher.

8. Exim Bank

Overview: Exim Banca Românească is a critical player in Romania’s banking landscape, particularly for its trade and export financing support.

Key Strengths:

  • Financial Performance: The bank showed solid financial growth in 2023.
  • Specialized Services: It offers specialized financial products aimed at supporting international trade.
  • Customer Base: Exim Bank caters to corporate and retail customers focusing on business growth.

Customer Feedback: Exim Bank is praised for its specialized services and support for businesses engaged in international trade.

9. Alpha Bank

Overview: Alpha Bank continues to be a stable and reliable banking institution in Romania.

Key Strengths:

  • Financial Performance: Alpha Bank reported healthy financials in 2023.
  • Service Diversity: It offers a wide range of banking products, from personal loans to investment services.
  • Branch Network: The bank has a robust network of branches throughout Romania.

Customer Feedback: Alpha Bank is appreciated for its comprehensive service offerings and strong customer support.

10. OTP Bank

Overview: OTP Bank rounds out Romania’s top ten largest banks, known for its steady growth and customer-focused approach.

Key Strengths:

  • Financial Performance: OTP Bank displayed solid financial results in 2023.
  • Customer Service: The bank is known for its excellent customer service and personalized banking solutions.
  • Innovation: OTP Bank continues to innovate in digital banking, enhancing customer experience.

Customer Feedback: Customers value OTP Bank’s personalized service and user-friendly digital platforms.

Other Notable Movements

  • Garanti Bank: Overtook Citi, rising to 11th place.
  • ProCredit Bank: Moved up to 19th, surpassing BNP Paribas.
  • TBI Bank: Ascended to 21st, while Salt Bank fell to 22nd.

Comparatively, in 2022, Banca Transilvania (1st place), BCR (2nd place) and BRD-SocGen (3rd place) were on the podium in the top of the largest banks by assets on the Romanian market, followed by ING Bank (4th place ), Raiffeisen Bank (5th place), CEC Bank (6th place), UniCredit Bank (7th place), Exim Banca Românească (8th place), Alpha Bank (9th place) and OTP Bank (10th place).

The Romanian banking sector has seen significant shifts, particularly with CEC Bank’s impressive rise. Banca Transilvania, BCR, and CEC Bank dominate the top positions, showcasing strong financial performance and strategic growth. As the landscape continues to evolve, these banks exemplify the dynamic and competitive nature of the Romanian banking industry, ensuring a robust financial ecosystem for consumers and businesses alike.

You also might be interested in our TOP Non-Banking Institutions Romania.

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