Merger

Q&A regarding the cross-border merger

• 1. Is it true that Credit Europe Bank (Romania) S.A. is going through a merger that will convert it from a subsidiary into a branch?

  We are in the process of a cross-border merger with our parent bank. Once this organizational change within our Group is finalized, we will convert from a subsidiary into a branch. This will increase synergy and better use of all resources, which will have benefits for you as our customer in terms of the products, services and digital capabilities.

• 2. Why is this change necessary?

  Our business purpose is to strive, go beyond our current potential and offer the best products and services to our customers. The conversion will increase synergy and better use of resources, which will benefit our customers and business partners. 

• 3. How long will the merger process take?

  The merger process depends on several regulated procedures and legal aspects, which we expect will be completed by the end of this year. You, as our customer, will not experience any change in the day-to-day bank-related activities. You will be able to use our products and services as you have been before.  

• 4. How will this merger impact me as a customer?

  As a customer, you will not experience any change in the day-to-day bank-related activities. You will be able to use our products and services as you are used to. We will make sure the intended conversion goes smoothly for you as our valued customer. 

  The only difference will be that if you have any deposits, the deposit guarantee will be assured by the Dutch Deposit Guarantee Scheme which is operated by the Central Bank of the Netherlands under similar conditions, based on the same European legislation (up to a maximum of € 100.000 per person). In case of activation of this guarantee, the institution to which you can address these procedures is located in Romania, being the Bank Deposit Guarantee Fund. Details of this protection can be found in the notification you have received and that you may also find here.
   

• 5. Will your products and services offer change?

  No. Your contractual terms and conditions with the bank will remain the same. We will continue offering you reliable products and easy-to-use financial services.

• 6. Do I need to do anything specific to remain a customer as a result of the merger?

  You do not need to do anything. You will be able to use our products and services as you are used to. We will make sure the conversion goes as smoothly as possible for you as our valued customer. 
   

• 7. Will the bank’s activity be disrupted during the merger process?

  You will be able to use our products and services as you are used to. We will make sure the conversion goes smoothly for you as a valued customer. 

• 8. Will the online banking services be interrupted from time to time due to the merger?

  You will be able to use our online banking service as usual, without any impact due to the merger process.

• 9. Are my deposits safe and who guarantees my deposits? What is the guaranteed level of deposits under the applicable deposits guarantee system?

  Yes, your deposits are safe and will be guaranteed under similar conditions by Dutch Deposit Guarantee Scheme, which is operated by the Central Bank of the Netherlands, based on the same European legislation (up to a maximum of € 100.000 per person). In case of activation of this guarantee, the institution to which you can address these procedures is located in Romania, being the Bank Deposit Guarantee Fund. Details of this protection can be found the notification you have received and that you may also find here.

• 10. Will my deposit’s interest remain at the same level?

  The interest rates for your existing deposit accounts will not change because of the merger. If you want to open a new deposit account, all up to date information about our current offer can be found on our website and mobile banking app. 

• 11. Will my interest rate for loans remain the same?

  The interest rates for your existing loans will not change because of the merger, and the current terms and conditions of the loan agreement will continue to apply. If you want to take a new loan, all up to date information about our current offer can be found on our website and mobile banking app. 
   

• 12. Will new fees and commissions be introduced?

  The merger will not influence whatsoever the pricing policy of the bank related to you as a customer. 

• 13. Do I still have to repay my loans?

  Yes, you still need to repay your loans according to the contract you have. Your obligations will not be erased by the merger. All your contractual rights and obligations will simply be transferred by virtue of law to Credit Europe Bank N.V., which will be acting in Romania through the Bucharest Branch. You will have to continue to pay according to your contract with Credit Europe Bank (Romania) S.A. and you will continue to have the same rights and obligations.

• 14. Will my contract with the bank remain the same?

  The merger will not impact the contract you have with Credit Europe Bank (Romania) S.A. Your rights and obligations will remain the same and will continue to be governed by the Romanian law. The merger will only have effect on the Bank’s legal status, which will become Credit Europe Bank N.V., as a legal entity, and will be acting in Romania through its Bucharest Branch.
   

• 15. What do I do if I have a complaint regarding the bank’s services?

  We encourage you to contact us regarding any dissatisfaction you have with our products and services to find the best solution together. However, Romanian institutions (ANPC and the Data Protection Authority) will remain competent to solve your claims.
   

• 16. Will my debit / credit cards be changed?

  Your original contractual terms and conditions for your issued cards will remain the same, with no required action on your side. The renewal/reissuing process will follow the same existing flows. You will benefit from the same advantages and conditions as the current ones, and we shall continue to provide the same quality for the offered services.

• 17. Will my bank account (IBAN) change?

  Your bank account (IBAN) will not change.