First Bank (Romania) — Profile, Services and How to Open an Account

First Bank (Romania) — Overview

First Bank is a Romanian commercial bank operating a broad range of retail and corporate banking services across Romania. The bank traces its contemporary identity to the acquisition and rebranding of Piraeus Bank Romania in 2018. Since the rebrand, First Bank has positioned itself as a full-service bank for individuals, small and medium-sized enterprises (SMEs) and corporate clients, combining a domestic branch network with digital banking services.

Brief history and founding

The entity now known as First Bank in Romania continues the local operations of Piraeus Bank Romania, which had operated in the Romanian market for many years. In 2018 the bank’s Romanian operations were acquired by a consortium led by private equity investors and rebranded as First Bank. The rebranding marked a strategic shift toward strengthening local governance, expanding product coverage for retail and SME customers, and investing in digital channels. Headquartered in Bucharest, First Bank operates through a nationwide network of branches and ATMs.

Type of bank

First Bank is a commercial bank with a strong retail focus. Its activities cover the full spectrum of traditional banking services for individuals (retail banking), services tailored to small and medium-sized enterprises (SME banking), and corporate banking solutions for mid-market and larger corporate clients. While its core businesses are retail and commercial banking, it also offers transactional and financing products that support corporate treasuries and trade operations. It does not present itself primarily as an investment bank in the narrow sense (i.e., underwriting securities on capital markets), but it does provide advisory and finance solutions for corporate customers.

Key services offered

First Bank’s product suite is broad and designed to meet the needs of both personal and business customers. Main categories include:

• Personal banking

  • Current accounts and savings accounts
  • Debit and credit cards
  • Consumer loans and personal installment loans
  • Mortgages and housing loans
  • Overdrafts and short-term credit products
  • Savings and deposit accounts
  • Digital and mobile banking services

• Business and corporate banking

  • Business current accounts and multi-currency accounts
  • SME loans, working capital finance and investment loans
  • Corporate lending and structured financing
  • Cash management, collection and payment services
  • Trade finance (letters of credit, guarantees)
  • Leasing and factoring (often provided in cooperation with partners)

• Additional services

  • Internet and mobile banking platforms for individuals and businesses
  • Payment and card acquiring services for merchants
  • Advisory and transactional support for corporate clients

Notable features or specializations

• Retail and SME focus: First Bank places emphasis on serving retail clients and small-to-medium enterprises, offering tailored lending and cash management solutions.
• Branch network combined with digital channels: The bank operates a nationwide branch and ATM network supplemented by online and mobile banking tools, enabling customers to manage accounts digitally while still having access to face-to-face service where needed.
• Range of credit products: First Bank provides a comprehensive set of lending products — from consumer and mortgage loans to SME investment loans and corporate credit facilities.
• Local governance and market knowledge: As a bank re-established under local ownership and management, it highlights an understanding of Romanian market dynamics and client needs.

Regulatory status and deposit protection

First Bank is licensed and supervised under Romanian banking law. The bank is supervised by the National Bank of Romania (Banca Națională a României, BNR) for prudential and regulatory compliance. As a bank operating in Romania, customer deposits are protected under the national deposit guarantee scheme — Fondul de Garantare a Depozitelor în Sistemul Bancar (FGDB). In line with EU rules, eligible deposits are protected up to the equivalent of EUR 100,000 per depositor, per bank. Customers should consult the bank or the FGDB for details about eligible deposit categories and the exact scope of coverage.

How to open an account (general overview)

Opening an account with First Bank follows standard banking onboarding and Know Your Customer (KYC) procedures. General steps typically include:

1. Choose the account type: Decide whether you need a personal current account, savings account, business account or another product.
2. Prepare documentation: For individuals this normally includes a valid identity document (Romanian ID card or passport for foreign nationals), proof of address (utility bill or similar) and, in some cases, proof of income or employment. For businesses, required documents typically include company registration documents, the tax registration certificate, proof of authorized signatories, identity documents for company representatives and any board resolutions authorizing account opening.
3. Visit a branch or apply online: Many basic accounts can be opened in a branch. First Bank also offers online or remote onboarding options for certain products (via online forms or video identification), but availability depends on the product type and customer residency/identification status.
4. Complete the application and KYC checks: The bank will verify identity and perform anti-money-laundering (AML) checks, including obtaining information on the source of funds and intended account usage.
5. Initial deposit and card issuance: Some accounts require an initial deposit; debit/credit cards may be issued or mailed to the customer after account activation.

Because specific procedural details and required documents can change, prospective customers should consult First Bank’s website or contact the bank directly before starting the process.

Contact information and website

• Official website: https://www.firstbank.ro
• Headquarters: Bucharest, Romania (detailed branch and contact information is available on the bank’s website)
• Customer service and local branches: Contact numbers, email addresses and branch locations are published on the bank’s site and updated regularly. The website also provides information on digital banking, product terms, fees and how to apply.

For the most up-to-date details on products, account opening requirements, interest rates and fee schedules, consult First Bank’s official website or visit a local branch. Regulatory announcements and consumer protection information can be found on the National Bank of Romania and the Deposit Guarantee Fund (FGDB) websites.

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Note: This article provides an informational overview. Always verify current terms, fees and regulatory status directly with the bank or the relevant authorities before making financial decisions.