en First Bank (Romania)

First Bank
Formerly	Piraeus Bank Romania (2000-2018); Pater Bank (1995-2000)
Company type	Societate pe Acțiuni (S.A.)
Industry	Financial services
Founded	May 3, 1995; 29 years ago
Headquarters	Bucharest, Romania
Area served	Romania
Key people	Henk Paardekooper (CEO)
Owner	Independent; (1995–2000); Piraeus Bank; (2000–2018); J.C. Flowers & Co.; (2018–2024); Intesa Sanpaolo; (2024–present);
Number of employees	959 (2023)
Website	firstbank.ro

First Bank is a Romanian bank founded in 1995 as Pater Bank. Since May 2024, the financial institution has been controlled by the Italian group Intesa Sanpaolo.

History

Five years after it was founded, Pater Bank was sold in 2000 to Piraeus Bank,^[1] and its name was changed to reflect its new owner. Piraeus Bank sold its Romanian subsidiary to J.C. Flowers & Co. on 28 June 2018, who changed the bank's name to First Bank on 12 September 2018.^[2]

As of the following month, its shareholding structure became as follows:^[3]

J.C. Flowers & Co. - 76.1%
EBRD - 19%
Natural persons - 4.9%

In April 2020, First Bank acquired and absorbed the Romanian subsidiary of Bank Leumi.^[1] In May 2024, the bank was acquired by the Italian group Intesa Sanpaolo.