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Bank extends cooperation with deal to Romania , Equities News - EquitiesPoland.pl
Coverage of high-potential mid-market firms in Poland

Article

Bank extends cooperation with deal to Romania

TAG'S: Alior Bank SA, Banking

Large-cap bank Alior will provide financial intermediary services for Romanian telco Telekom Romania, a unit of T-Mobile, extending its co-operation with T-Mobile to the first foreign market, Alior Bank said in a market filing.

 

 

The deal "will be a continuation of a business cooperation between the Bank and T-Mobile, which enabled a T-Mobile Banking Services offer released in May 2014," the bank said.

 

Alior will seek to attract "a substantial portion" of over 6 mln clients of Telekom Romania in the frame of the deal.

 

The bank will provide mobile and transactional banking services, including overdrafts, deposit offers, granting loans, including cash loans, as well as providing credit card services, among others.

 

The bank will set up a branch in Romania in order to service the clients and will provide Telekom Romania with a call option for its Romanian unit after five years of the deal's lifetime, or earlier, under conditions specified in the contract.

 

Alior will be paying Telekom Romania a fee for each new client, a monthly fee dependent on number of clients which meet specified contractual criteria and will provide a share in gross profits of the bank depending on the profitability of the clients attracted by Telekom Romania, the filing stated.

 

The deal is conditional on, among others, securing regulatory consents, Alior said.

 

In Poland, Alior attracted 1 mln clients of T-Mobile to use T-Mobile Banking Services in the first year of cooperation, the bank said in early May 2015.

2015-08-10



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