Firms in the Spotlight Banking and finance

MPR Partners

MPR Partners logo

MPR|Partners is an internationally recognized, award winning law firm with offices in London and Bucharest, acting as a one-stop-shop for legal, tax advisory and insolvency matters pertaining to the private business and public sectors.

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Popovici Nitu Stoica & Asociatii

Popovici Nitu Stoica & Asociatii logo

Popovici Nitu Stoica & Asociatii is a leading Romanian independent law firm. Established in 1995, as one of the first incorporated partnerships, the firm brings together strong local resources, with exceptional credentials, outstanding records and distinguished careers in law, business and academia.

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Filip & Company

Filip & Company logo

Filip & Company is one of the leading law firms in Romania providing top quality assistance in all relevant areas of law for businesses operating in Romania or considering Romania.

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Banking and finance in Romania

Clifford Chance Badea

At Clifford Chance Badea, the banking and finance team has an excellent track record in representing major banks and lenders, often in complex cross-border financings, acquisition and project finance, asset finance, banking-related M&A, and financial regulatory matters.  The practice is jointly led by the quartet of Daniel Badea, managing partner of the Bucharest office and a highly regarded expert in banking, corporate finance and project finance matters; Andreea Sisman, who excels in project and real estate finance; banking and fintech expert Cosmin Anghel; and Madalina Rachieru, who focuses on capital markets matters. The ‘very well informedMadalina Mailat is also recommended.

Practice head(s):

Daniel Badea; Madalina Rachieru-Postolache; Cosmin Anghel; Andreea Sisman

Other key lawyers:

Madalina Mailat


‘The firm is clearly distinguished by its high standards of professionalism. The lawyers on this team are known for their unmatched competence, outstanding legal skills and their constant commitment to their clients. Working with the firm is a real privilege for anyone who needs legal assistance. This team of lawyers undoubtedly demonstrates excellent teamwork skills and effective coordination. Each team member contributes their experience and expertise, thereby creating a synergistic work environment that optimally serves the interests of clients. In conclusion, Clifford Chance Badea is a law firm that deserves all praise for their outstanding professionalism and exemplary way of working with clients. They consistently demonstrate that they are dedicated to the success of their clients and that they are among the best attorneys in the industry.’

‘Madalina Rachieru is an experienced lawyer with over 20 years of experience, and Madalina Mailat has proven her professionalism, availability for the client and she is very well informed. The exemplary professionalism and collaboration demonstrated by this firm is certainly worthy of praise.’

‘Professional team, covering all legal areas.’

‘Andreea Sisman and Mădălina Mailat provided us with relevant legal opinions, being always client oriented and professional.’

Work highlights

  • Advising an IFI in Romania on granting municipal loans to one of the largest cities in the country to co-finance energy investments.
  • Advising Oscar Downstream on a syndicated multicurrency facility of up to €180m borrowed from Raiffeisen Bank International and Raiffeisen Bank Romania.


CMS' Bucharest-based banking and finance team has considerable expertise in advising on a range of transactions, financial regulatory matters and innovative finance. The group benefits from the strength of the firm's global network when representing multinational clients in work, and practice co-heads Ana Radnev and Cristina Reichmann frequently work in co-ordination with international teams on cross-border matters. Adina Nanescu receives plaudits for her ‘discerning legal mind‘, and Alina Tihan brings more than 20 years of experience in representing lenders and borrowers. Tudor Naftica and Andreea Turcu are senior associates to note.

Practice head(s):

Ana Radnev; Cristina Reichmann

Other key lawyers:

Alina Tihan; Adina Nanescu; Tudor Naftica; Andreea Turcu


‘Working with CMS is a unique experience in terms of knowledges and high professionalism. I have always appreciated their concern for the sustainable development of our business, constantly allocating time and experienced resources to identify the right solution. Any idea, however innovative, was embraced with the utmost willingness by CMS teams and supported argumentatively with multi-disciplinary teams. Also, CMS involvement in community and environmental topics is highly appreciated.’

‘Mostly we work with the financial services CMS team and we have found a major interest in supporting innovation. Their efforts to analyse, to research and look for viable solutions to implement new business ideas with maximum compliance and low risk are highly appreciated. They are a trusted partner for continuous business improvements and development and outstanding solutions.’

‘I appreciate the professionalism, promptness and kindness.’

‘Cristina Reichmann is a go-getter partner who is ready to roll up her sleeves and tackle problems with a “can-do” and “will solve” attitude, which I appreciate especially when effective resolution of deal and strategic issues requires more of a seasoned eye and approach. Adina Nanescu is a counsel-level attorney who brings level-headed thoughtfulness and a discerning legal mind to every problem, and both understand the importance of partnering with the in-house client to understand the primary objectives and execute on those objectives.’

‘We choose CMS as our legal advisor on banking & finance practice as they have the best in class acumen and knowledge in regulatory and legal issues for companies like us. One of the things that makes CMS stand apart is their global network know-how exchange that can be accessed if needed for their local clients and also recommendation to engage with CMS teams in other jurisdictions.’

‘We work with Cristina Reichmann on banking and finance advice. Cristina knows in deep details from general regulatory trends to different edge cases and we feel very comfortable to have such advisor to our internal legal & regulatory team.’

‘We recommend Ana Radnev and Tudor Naftica.’

Key clients


European Bank for Reconstruction and Development (EBRD)

Council of Europe Bank

ING Bank

Raiffeisen Bank

BRD – Groupe Société Générale S.A.

Garanti BBVA Romania

Erste Group Bank

Libra Internet Bank

Banca Comerciala Romana

Banca Transilvania S.A.

Alpha Bank

OTP Bank

B2 Holding

Intesa San Paolo Group


Dentons‘ Bucharest office is home to a banking and finance team that receives plaudits for its ‘unwavering commitment to excellence and client success‘. The practice is well versed in handling a range of cross-border banking and finance matters. Green and sustainable financing is a growing area of instruction, and project, acquisition and leveraged buyout finance are key areas of expertise for the team. Simona Marin heads the practice, and has been kept busy advising banks and financial institutions on cross-border transactions. The ‘very professional and organisedOana Ionascu is a key contact, and Stefi Ionescu and Sandra Constantin are names to note. UK-qualified lawyer Simon Dayes is active in international cases.

Practice head(s):

Simona Marin

Other key lawyers:

Simon Dayes; Maria Tomescu; Oana Ionascu; Stefi Ionescu; Sandra Constantin


‘Dentons puts together a team of professionals with sound experience and knowledge, being same time capable of moving fast and in a pro-business manner.

‘Oana Ionascu is hard working, very professional and organised. She can efficiently coordinate large transactions, with dedication and attention to detail. She delivers with quality and speed.’

‘Simona Marin participated in negotiations and got involved in the more sensitive aspects of the transaction. Simona is a reliable adviser, watching for the client’s interest but with a pro-active and business approach.’

‘This highly specialized team with extensive industry knowledge in particular within the real estate finance sector is a guarantor for bringing deals across the line swiftly. Lawyers qualified in England and Wales as well as in Romania work together seamlessly to find flawless solutions across different law governed finance documents. From our experience, unmatched in finance transaction in Romania. If you are looking for finance transaction lawyers in Romania, look no further!’

‘Sandra Constantin and Simona Marin: Extremely responsive with a high degree of efficiency, client-centric approach, not only pointing to potential issues but designing solutions.’

‘The banking and finance practice at Dentons Bucharest distinguishes itself through its unwavering commitment to excellence and client success. The team offers a comprehensive understanding of applicable regulations and market dynamics in Romania and the entire CEE/SEE region. They possess a deep knowledge of international finance transactions and excel in particular in real estate finance transactions. Their meticulous approach ensures clients’ financing needs are met.’

‘The team places clients at the forefront of their practice. Sandra Constantin exhibits an unmatched proficiency in finance matters, offering clients expert guidance in complex transactions matters. Her ability to craft innovative solutions tailored to clients’ needs sets her apart, providing clients with a distinct competitive edge.’

‘Simona Marin’s finance law expertise is unparalleled, exemplified by her profound knowledge of intricate financial regulations and the complexities of high-stakes transactions. She consistently displays strategic prowess, creatively identifying solutions that consistently secure advantageous outcomes for clients facing intricate financial challenges.’

Key clients

Erste Bank

Raiffeisen Bank

NEPI Rockcastle


Banca Transilvania

ING Bank

BRD-Groupe Société Générale

Alpha Bank Romania / Alpha Bank S.A. (Greece)

UniCredit Bank S.A. / UniCredit S.p.A.


Black Sea Trade and Development Bank (BSTDB)

European Bank for Reconstruction and Development (EBRD)

Penta Investments / Dr. Max Group

Work highlights

  • Advised a syndicate of lenders on a €450m secured credit facility to AFI Europe for refinancing its Romanian shopping centre portfolio.
  • Advised NEPI Rockcastle on a secured real estate financing of €200m made available by Erste Group Bank AG and Raiffeisen Bank SA.
  • Advised a consortium of seven international banks on a €155m financing for Serbia’s MK Group and Slovenia’s ALFI Green Energy Fund.

Filip & Company

Filip & Company is a highly regarded firm in the financial space in Romania, and is recognised for its solid track record in representing major domestic banks and investment companies. Multijurisdictional matters are a core area of strength for the team. Practice head Alina Stancu Bîrsan has extensive experience handling transactions, refinancing matters, and regulatory issues for banks. Founding partner Alexandru Bîrsan focuses on capital markets-related matters. Alexandra Manciulea stands out as 'one of the foremost structured finance professionals on the market'. Rebecca Marina and Camelia Iantuc are key names in the group.

Practice head(s):

Alina Stancu Birsan

Other key lawyers:

Alexandru Birsan; Alexandra Manciulea; Camelia Ianțuc; Rebecca Marina


‘Substantial and consistent partner time allocation. High availability, excellent service level and timely deliverables.’

‘Alexandra Manciulea is one of the foremost structured finance professionals on the market, with exemplary reputation within the lending environment. She has impeccable technical skillset, also doubled by strong negotiation capabilities.’

‘A very well skilled professional team with a wide exposure to different transactions. Plus a lot of flexibility to customer’s needs.’

‘Alina Stancu Birsan and Rebecca Marina – very good theoretical preparation doubled by an excellent practical exposure to different cases. A remarkable understanding of the customer’s needs and an ongoing readiness to ever changing demands from customers. Also, an incredible anticipation of the expectations from customers and, thus, there are always available well tailored contingency scenarios.’

‘Filip & Company is one of the best-known consulting teams in the Romanian banking and finance consulting market. They have always proven to be an honest, experienced and results-oriented partner, regardless of which side of the table they are.’

‘Alina Stancu, Rebecca Marina, Alexandra Manciulea and Camelia Iantuc consistently demonstrated to us that a lawyer is more than a consultant, they are a deal maker, if you choose your lawyers wisely.’

‘Very knowledgeable of the banking sector.’

‘A team of professionals always prepared with the best counsel.’

Key clients

RCS&RDS S.A./ DIGI Communications N.V.

Romanian Ministry of Public Finance

One United Properties

Banca Transilvania S.A.

Banca Comerciala Romana

Raiffeisen Bank S.A.

Raiffeisen Digital Bank AG

Raiffeisen Bank International AG

Holde Agri Invest

UniCredit Bank S.A.

Oresa Limited

Magnet Developments

Alpha Bank

Credit Europe Bank S.A.

Abris Capital Partners

eMAG/ Dante International

Romanian Business Consult

Coöperatieve Rabobank U.A.

Piraeus Bank SA

Skandinaviska Enskilda Banken AB

ING Bank NV Amsterdam, Bucharest Branch

Victoriabank S.A.

Work highlights

  • Assisted Digi Group with four international financings.
  • Advised Holde Agri Invest on a club loan granted by Banca Transilvania and OTP Bank worth over €33m.

Nestor Nestor Diculescu Kingston Petersen

Nestor Nestor Diculescu Kingston Petersen handles the gamut of banking and finance matters, ranging from domestic and international syndicated loans to large-scale financing mandates. The team is adept at representing lenders and borrowers in a broad range of sectors, including agribusiness, real estate, pharmaceutical and automotive entities. The group is also sought after by prominent banks with business operations in Romania. Alina Radu is a highly regarded practitioner in the space; she co-heads the practice with senior partner Manuela Nestor. Valentin Voinescu focuses on transactional matters, project finance and structured finance. Alexandru Ciambur is a name to note.

Practice head(s):

Manuela Nestor; Alina Radu

Other key lawyers:

Valentin Voinescu; Alexandru Ciambur; Catalina Dan


‘NNDKP is a strong partner to help you with any transaction, no matter how complex it could be. They deliver always on time and with a highly level of professionalism. They have a practical approach always finding the best and feasible solution for you, which works in real life, not only in theory.’

‘Alina Radu – Partner is a highly qualified lawyer and a wonderful person. She can address easily any obstacle that could appear in a transaction and she has excellent communication skills.’

‘Extensive expertise and skills in respect of the local banking and finance market. Relevant track record on complex transactions.’

‘Very helpful, innovative and providing fast execution.’

‘As always the firm was outstanding. Went above and beyond.’

‘Real professionals in all aspects. Calm and patient.’

Key clients

Banca Comercială Română S.A.

Raiffeisen Bank S.A.

ING Bank NV Amsterdam – Sucursala Bucuresti

Unicredit Bank S.A.

OTP Bank S.A.

Banca Transilvania S.A.

Alpha Bank Romania S.A.

BRD Groupe Societe Generale S.A.

Banca Comerciala Intesa Sanpaolo Romania S.A.

Garanti Bank S.A.

First Bank S.A.

Impact Developer & Contractor SA

Globalworth Group

Aaylex One S.A.

Evofarm (Marcos Provit S.A.)

Work highlights

  • Advised a syndicate of nine local and foreign banks on a €550m refinancing and financing of certain companies of the Ameropa Group.
  • Advised Globalworth on a €110m refinancing granted by Banca Comerciala Romana and Erste Group Bank to five companies within the Globalworth group.
  • Assisted OTP Bank Romania and OTP Group with a €57.8m financing for Exigent Property Investment to fund the development of phase 5 of Exigent Plaza Residence.

RTPR | Radu Taracila Padurari Retevoescu SCA

RTPR | Radu Taracila Padurari Retevoescu SCA‘s ‘thorough knowledge of the local market‘ is a boon for its banking and finance practice, which is sought after by clients for assistance with a broad range of matters. Key areas of strength for the team include asset and structured finance, leveraged and acquisition finance, project finance, and financial restructuring. Cross-border work is another area of instruction. The practice is jointly led by Victor Pădurari and Alexandru Retevoescu; the duo have extensive experience in advising top financial institutions and banks. Cosmin Tilea stands out for his ‘superb capacity to identify the critical issues'. Counsels Poliana Gogu-Naum and Andreea Burtoiu and senior associate Andreea Nedeloiu are also recommended.

Practice head(s):

Victor Padurari; Alexandru Retevoescu

Other key lawyers:

Cosmin Tilea; Andreea Burtoiu; Poliana Gogu-Naum; Bianca Eremia; Andreea Nedeloiu


‘The RTPR legal team we have been working with has shown solid knowledge on the banking and finance legal framework. Throughout the collaboration they have provided complex and relevant advice on the legal matters subject to the respective transactions.’

‘The RTPR team members advising us on various financial transactions have shown both strong knowledge on legal matters but also excellent communication skills and a transparent approach. The collaboration was constantly result-driven. Andreea Burtoiu has stood out in the legal team we have been working with in the financial/banking transactions, where she has proven complex and extensive knowledge of legal matters involved and a good approach towards finding the appropriate solutions.’

‘Extensive expertise in finance and banking, with a thorough knowledge of the local market and best practices in Romania.’

‘Extremely supportive people, with excellent communication and negotiation skills. Great synergies between the local team and the English law counsel of A&O, providing a perfect mix for transactions under multiple jurisdictions.’

‘In the arena of banking and finance, where the climate is persistently evolving and the stakes are invariably high, the team at RTPR has consistently demonstrated a calibre of expertise and a level of commitment that is both rare and commendable. The uniqueness of their practice lies not only in their extensive legal and industry knowledge but also in their proactive approach to client service and legal problem solving.’

‘The team, through our interactions, has exhibited a pronounced capability to anticipate potential legal and strategic hurdles, proactively addressing them and ensuring that our financial operations and transactions progress with optimal smoothness and efficiency. Their solutions-oriented approach has consistently provided us with innovative and practical legal and strategic advice, tailoring their counsel to align seamlessly with our organizational objectives and regulatory obligations. We recommend Cosmin Tilea and Andreea Nedeloiu.’

‘The banking & finance team from RTPR is top-notch. They have a great, responsive and extremely experienced team. Their legal knowledge combined with great deal management makes RTPR a very trustful and reliable external counsel in complex financing transactions. They have assisted us (again) this year in a syndicated transaction and we were, as always, extremely satisfied with their overall assistance so we’ll retain RTPR as our longstanding adviser for financing matters.’

‘During our longstanding relationship with RTPR we have been assisted by the team led by partner Cosmin Tilea who is an excellent deal maker thanks to his great listening and negotiation skills. Cosmin manages to seamlessly lead the deal team and to obtain the best solution during negotiations for the client. I am impressed by his market knowledge, his friendly relationship with the other law firms’ teams and the superb capacity to identify the critical issues and come-up with tailored solutions. I strongly recommend Cosmin Tilea and his team.’

Key clients


Erste Group Bank

Raiffeisen Bank

ING Bank

UniCredit Bank AG

Banca Comerciala Romana (BCR)

PKO Bank Polski

Macquarie Infrastructure and Real Assets (MIRA)

Rompay Network SRL (Oresa Ventures)

World Class Romania S.A.

Regina Maria / Mid Europa Partners

Work highlights

  • Advised UniCredit Bank on an €750m acquisition finance matter.
  • Advised Rompay Network on a new facility agreement with Raiffeisen Bank for the development of a new logistics project in Iasi county, Romania.
  • Advised Rodbun Grup on a syndicated loan.

Tuca Zbârcea & Asociatii

Tuca Zbârcea & Asociatii fields a banking and finance team with an excellent reputation for representing local banks, the Romanian subsidiaries of international financial groups, and regional financial institutions in a range of matters. The group handles domestic and international transactions, and assists investment funds with NPL portfolio acquisitions. The practice is jointly led by the triumvirate of Stefan Damian, financing expert Mihai Dudoiu and Gabriela Anton, who brings two decades of experience in banking and finance law and is a key name for fintech matters. Managing associates Catalin Georgescu and Sergiu Negreanu are key contacts.

Practice head(s):

Stefan Damian; Mihai Dudoiu; Gabriela Anton

Other key lawyers:

Sergiu Negreanu; Catalin Georgescu


‘The team is most helpful to work under very short deadlines, managing to delivery even on short notice. Once they confirm a cooperation you can rest assured they will deliver. They are pro-business focused and solutions oriented. I value greatly their legal expertise.’

‘Deliver fast and good/reliable solutions. I recommend Gabriela Anton, Mihai Dudoiu and Sergiu Negreanu.’

‘We recommend Gabriela Anton, Mihai Dudoiu and Catalin Georgescu.’

‘Responsive and helpful, strong on fintech.’

‘Gabriela Anton in easy to work with and provides clear advice.’

Key clients


APS Zeta S.A.

Banca Comerciala Romana (BCR) and Erste Goup

Banca Transilvania

BRD Groupe Société Générale S.A. and Société Générale

Deutsche Bank


ING Bank

Loan Agency Services SRL

OTP Bank Romania

Partners for Growth VI, L.P.

Raiffeisen Bank

Ribbank Letonia

Serraghis Asset Management S.A.

Speedwell Group

Work highlights

  • Assisting Banca Comerciala Romana as mandated lead arranger with the €228m financing extended to MedLife Group.
  • Advising APS Holding, Deutsche Bank, Ana Cap, on the takeover by the APS of two portfolios of non-performing loans amounting to €100m.
  • Acting for Cineworld Group on a financial restructuring process.

Bondoc si Asociatii SCA

The banking and finance department at Bondoc si Asociatii SCA has a solid track record in handling transactional and regulatory matters. The team's workload includes acquisition, corporate and aviation finance, green financing and financial regulatory issues. The ‘seasoned professional' Simona Petrișor heads up the practice, and combines regulatory expertise with strength in advising on high-end finance transactions. Diana Ispas' broad practice takes in banking, finance and capital markets matters. At managing associate level, Alexandru Achim and Florin Sandu stand out.

Practice head(s):

Simona Petrișor

Other key lawyers:

Diana Ispas; Alexandru Achim; Florin Sandu


‘Very deep understanding of the internal, EU and international regulations in the field. Excellent capability to adapt to the customer’s needs and to the actual situation.’

‘Simona Petrisor is a seasoned professional, who always proves excellence in the quality of the works and advices.’

‘Florin Sandu is a great professional in the field and also very responsive and attentive with deadlines.’

‘Simona Petrisor – High professional standards, integrity and high-quality legal advice.’

‘This team gathers lawyers with excellent legal knowledge and expertise and a high level of business understanding. Extremely diligent and detail oriented, but focused and dedicated to getting deals done in the best conditions for their clients. It is very well balanced in terms of the profile and professional experience of the team’s key members, with great professional and personal synergies that allow them to provide quick and spot-on solutions.’

‘Simona Petrișor’s outstanding legal knowledge (on various complementary areas of the law), commitment and attention to details. She is always aware of every single detail of the transaction and works side by side with the team on delivering best legal solutions and surpassing any obstacles that may appear along the way.’

‘Alexandru Achim – key member of the team, resourceful and efficient with good ability to cover efficiently a broad range of transactional and regulatory topics.’

‘The team is very knowledgeable about the subject matter related to payment institutions and how they are authorized by central banks, in particular the National Bank of Romania. The process is quite tricky from a legal and bureaucratic perspective, and they knew just how to navigate it perfectly.’

Key clients

A&M Capital Advisors Europe LLP

Air Lease Corporation

Altor Fund


CMU Regina Maria

Commerzbank Group

Dante International

Deutsche Bank

Garanti Bank Romania S.A.

Johnson & Johnson

JS Hamilton Poland

Oney Bank / Oney Finances S.R.L. (Auchan Group)

PPF Group

Profi Rom Food

Raiffeisen Leasing IFN S.A.

Restart Energy One

Returo Sistem Garantie Returnare S.A.


Stabilus SE

TBI Bank

Token Payment Services SRL


UniCredit Bank

Work highlights

  • Assisted RetuRO Sistem Garanție Returnare with obtaining a RON426m green financing.
  • Assisted a syndicate of 14 banks with the €940m refinancing of the existing debt of Dr. Max Group.
  • Advised Stabilus SE and its subsidiaries on a €450m financing.


The Bucharest office of Kinstellar has traditional strength in financial regulatory matters, and counts major international banks as key clients. Cross-border financings are also prominent in the team’s workload, with lender-to-lender financings being a key area of growth. Special counsel Magdalena Răducanu heads up the practice. Zsuzsa Csiki is the name to note for financial regulatory issues, while Răzvan Constantinescu and Mădălina Perțe are further key names.

Practice head(s):

Magdalena Răducanu

Other key lawyers:

Zsuzsa Csiki; Răzvan Constantinescu; Mădălina Perțe; Adelina Seserman


‘The team is knowledgeable and very helpful. Very good quality of advice and service minded.’

‘Zsuzsa Csiki is our main contact and she will see to it that our issues are taken care of.’

‘Very responsive and eager to please team, well-structured team, good allocation of resources, very responsive, great final product.’

‘The human quality and professional approach of the Kinstellar team always makes the difference in favour of their client.’

‘The lawyers are experienced and trustworthy, with a professional approach, curiosity and willingness to find alternative solutions to the juridical problems of clients.’

Key clients

BRD-Groupe Societe Generale

European Investment Bank


BNP Paribas Bank

ING Bank

Inter Cars

JP Morgan Chase Bank

Business Lease Group

Deutsche Bank

Polon-Alfa Group

UniCredit Bank


Credit Suisse


Paycom Software Inc

VIVA Payment Services

Descartes Underwriting


Work highlights

  • Advised BRD-Groupe Societe Generale on the financing of two real estate buildings developed by Belgian property developer Speedwell.
  • Advised the European Investment Bank in Romania on a sustainable financing granted to a Romanian borrower.
  • Acted for the consortium of banks, made up of ING Bank London, ING Bank, Citigroup Europe plc Dublin – Romania Branch, UniCredit Bank, BRD – Groupe Société Générale and Raiffeisen Bank on a €500m senior facility agreement to RCS & RDS.

Musat & Asociatii

Musat & Asociatii has an established footprint in the banking and finance space in Romania, and its client roster takes in lenders, underwriters and borrowers. The practice has a solid track record in handling financial regulatory matters and acquisition and leveraged finance work, with additional expertise in fintech matters. The practice is jointly led by Monia Dobrescu, who stands out for her ‘high level of service and professional approach', and Răzvan Stoicescu, who acts for international clients in mandates. The duo are ably supported by Cristian Cepesi.

Practice head(s):

Monia Dobrescu; Razvan Stoicescu

Other key lawyers:

Cristian Cepesi; Robert Urmosi


‘Very reactive and commercially savvy. Very knowledgeable in commodity trading and commodity finance.’

‘Razvan Stoicescu and Robert Urmosi are first class.’

‘The team is technical but very commercial and able to explain complex concepts in clear, digestible terms.’

‘Razvan Stoiescu is a pleasure to work with and very reactive.’

‘Much appreciated the professionalism of the team member we have collaborated with. A structured approach, availability as per customer needs and in a timely manner is valuable for any customer when using this kind of service.’

‘Excellent service, dedicated people and structured reporting package are few aspects that each member of the team have demonstrated.’

‘Special mention to Monia Dobrescu – a high level of service, professional approach, key and practical advice , on time and appropriate for the business. Any CEO or top management would appreciate spot on advice when working with Monia.’

Key clients

Jefferies Finance LLC, J. P. Morgan SE, Danske Bank A/S



Magna International Inc.

BCR Banca Pentru Locuinte

Hili Properties / Baneasa Real Estate SRL

Premier Restaurants Romania and BRD Societe Generale

Work highlights

  • Assisted the lenders with a senior facilities agreement or the potential acquisition of a number of companies by certain entities controlled by FSN Capital.
  • Advising BCR on financing regulatory issues.

Popescu & Asociatii

The banking and finance practice at Popescu & Asociatii is regularly instructed by banks and financial institutions in financings and regulatory issues pertaining to the clients' operations in Romania. The team has a specialist focus on advising digital banks, and is also recognised for its strength in handling contentious work in the sector. The practice is jointly led by the triumvirate of Octavian Popescu, who is highly regarded for his expertise in both finance and dispute resolution; Anca Simeria, who is especially strong on transactional work; and real estate finance expert Loredana Popescu. Senior counsel Constantin Branzan and Mirela Cazacu are names to note.

Practice head(s):

Octavian Popescu; Anca Simeria; Loredana Popescu

Other key lawyers:

Constantin Branzan; Mirela Cazacu


‘I think they are very good lawyers who are systematic in their approach to deals. It is very good to have them on big deals because they know how to handle these sorts of transactions. They are very professional and business-friendly lawyers. They try to find ways to make deals work and to reduce risk, while always considering the business angle. We always achieve great results, and the partners are always careful in terms of time and the quality of the service they provide. They are committed to their clients.’

‘The entire team is incredibly knowledgeable and reliable, with commercial understanding and approach being second to none.’

‘During these years working with them we found true professionals handling such a technical industry and being able to always translate this into clear and straightforward solutions for our issues. They are very responsive, really good on negotiations and we really appreciate their particular strengths, commerciality. It is an absolute pleasure working with them.’

‘Octavian Popescu’s expertise and experience in the legal field is undeniable. The knowledge and level of service is always quite extraordinary every time we had interactions. He is technically strong, super-efficient and always available, providing a first-class advice and representation, very clear and thoughtful recommendations, making him a pleasure to work alongside. He is the lawyer to go in Romania!’

‘They have a terrific practice that covers our needs and comprises solution-minded practitioners. The team is very thorough and focused and the way the firm handles cases is impressive. I really appreciated it for its great service in terms of in-depth knowledge combined with practical advice, and great analytical capacity. They are committed to solving problems and to meet our legal needs in our relations with the financing banks.’

‘I have never worked with such a highly capable and responsive legal team in Romania. The innovative interpretations of the contractual provisions proposed by Popescu & Asociatii team led to the successful obtaining of all the claims that we requested, reason why we do not consider any improvements in their activity, at least so far.’

‘The service is excellent and of great quality. The firm stands out for its teamwork and the exchange of knowledge across different areas, which enriches the work and makes for favorable results. The team is professional and has both national and international exposure.’

‘Anca Simeria leads a team that is very strong and works together as a fully integrated unit across several disciplines, making it easy for us to get seamless advice that incorporates all aspects from different practice areas. She is very well respected in the legal community and works well with opposing counsel and other advisers, making transactions progress more smoothly.’

Key clients

Banca Transilvania


DVI Production

Revolut LTD


ING Bank NV Amsterdam – Bucharest Branch

Romanian Guarantee Fund for Private Entrepreneurs (FRGCIP)

Sinaia Town Hall

Generali SAFPP

BT Pensii

Romanian State – Intercommunity Development Association “Prahova Valley in Action”

Mytilineos Holding


Mega Image

Sometra SA

Electrica Furnizare

Eastern Securities

Kukullo Mezo Camp

Teamnet International

Work highlights

  • Advising IDEA Bank on a range of matters, including the introduction of full digital banking services.

Reff & Associates SCA

Reff & Associates SCA‘s banking and finance department is particularly active in the technology sector, and the team fields expertise in transactional matters, loan portfolio deals, financings, and banking-related M&A. Practice head Andrei Burz-Pinzaru stands out as ‘one of the best strategic minds in the legal environment in Romania'. Andreea Șerban has 'tremendous knowledge'Patricia Enache is another recommended practitioner.

Practice head(s):

Andrei Burz-Pînzaru

Other key lawyers:

Andreea Șerban; Patricia Enache


‘The strategic alliance with Deloitte Romania and the European network provides solutions to the most complex multijurisdictional projects.’

‘Andrei Burz – one of the best strategic minds in the legal environment in Romania. Andreea Serban – top tier banking lawyer, very thorough and fearless negotiator.’

‘We have been working with Reff’s team for years. Main reason for this is their unrivalled capacity to deliver highly competent advisory services and support for all complex problems and projects the company is facing. They achieve this by having multiple specialized teams, which can seamlessly work together and provide the required inputs at the right moment.’

‘Several individuals stand out. Among them, I can mention Andrei Burz-Panzaru, which is arguably the best advisor on the market, with a unique commercial mindset and huge knowledge of the market. Then is Andreea Serban, who is our saviour when it comes to acquisition projects. She has tremendous knowledge, skills and stamina to manage, push and deliver the projects in very tight deadlines.’

‘In depth and up-to-date legal knowledge with sound commercial sense.’

‘Their in-depth understanding of the market and their willingness to go extra-mile and find solutions for their customer.’

‘Andrei Burz-Panzaru in particular was a revelation. He’s so good that I ended up recommending him to literally every single tech company that is trying to build an innovative business model.’

Key clients

Banca Comercială Română

ING Bank, Bucharest Branch

Bank of Cyprus Public Company Limited

BLIK Romania S.A. and Polski Standard Płatności Sp. Z o.o.

Public Authority for the Digitalisation of Romania (ADR)

CEC Bank S.A.

Banca Comerciala Intesa Sanpaolo Romania S.A.

Powszechna Kasa Oszczędności Bank Polski S.A. (PKO Bank Polski)

European Digital Exchange S.A.

MetaWealth Platform S.R.L.

Despec International S.A.

LeanPay LTD

Kredyt Inkaso Investments RO S.A.

Kruk Romania S.A.

Nordensa Football S.R.L.

Work highlights

  • Advised Bank of Cyprus and its subsidiaries on the disposal of all its assets and operations in Romania.
  • Advised Blik Romania on the set-up and authorisation by the National Bank of Romania of a local payment system.

Schoenherr si Asociatii SCA

Schoenherr si Asociatii SCA has ‘an excellent banking and finance team, long established as one of the powerhouses in this area in Romania’. The group handles the full range of banking and finance work, including domestic and cross-border financing and refinancing matters, project finance, acquisition finance, real estate finance, debt restructuring and NPL transactions. Practice head Matei Florea has been kept busy handling investments in distressed bank assets and debt restructuring matters for both lenders and borrowers. Counsel Adina Damaschin assists with cross-border financing. Alexandra Pop and Francesca Buta are names to note.

Practice head(s):

Matei Florea

Other key lawyers:

Adina Damaschin; Alexandra Pop; Francesca Buta


‘Strong team, hard working and adaptable.’

‘Matei Florea is one of the best banking and finance lawyers in Romania, available to find solutions and to maximize the negotiation results.’

‘Part of an international law firm, Schoenherr și Asociații SCA has an excellent banking & finance team. They are long established as one of the powerhouses in this area in Romania. They advise on debt restructuring, (local and cross-border) financing, financial services regulatory and in general all kinds of banking related legal projects.’

‘Matei Florea and his team are very responsive and easy to work with. Matei is a leading banking & finance name in Romania, someone you positively want as your external counsel in sophisticated projects.’

‘They have in depth knowledge of deal particularities and are very strong in negotiations of the transaction documentation.’

‘You go to Schoenherr Romania if you need first-rate legal advice on banking and finance legal matters. They cover everything a lender might need, from lending to regulatory to special situations and they do it impeccably. We have worked with them in complex cross-border projects and they have always risen up to the challenge.’

‘Matei Florea is our go-to banking and finance legal advisor in Romania. He is a standout lawyer combining knowledge and client-focused approach. He is super responsive and builds excellent interpersonal relations.’

‘The Schoenherr Romania team has proved that it is highly capable of drafting and implementing legal documentation for complex financial transactions under time pressure and with frequently changing requirements and has a thorough knowledge of regulation in both the banking and the energy industries. It is also a legal firm that performs all legal due diligence activities thoroughly and presents its findings in a highly transparent form. Besides these main requirements, Schoenherr also proved to be flexible and has a low response time in providing support to us as clients in any matters.’

Key clients

Banca Comerciala Romana

DDM Holding

DZ Bank

EOS Group


Pehart Tec

Work highlights

  • Advised EOS on launching, together with the International Finance Corporation, a platform for NPLs and distressed real estate in Bosnia and Herzegovina, Croatia, Romania and Serbia.
  • Advised DDM Holding on the acquisition of a NPL portfolio from Intrum, valued at over €1bn.

Wolf Theiss

Claudia Chiper heads the banking and finance practice at Wolf Theiss‘s Bucharest office. The group has a solid track record in representing international and domestic credit institutions, financial companies, and corporations in transactional matters. Chiper has particular expertise in handling matters within the payment services sector in Romania. Other key practitioners include Alexandru Asaftei, senior associate Iuliana Stoicescu and associate Catalin Sabau.

Practice head(s):

Claudia Chiper

Other key lawyers:

Iuliana Stoicescu; Alexandru Asaftei; Catalin Sabau

Key clients


Accession Capital Partners

AFI Group

Banca Comerciala Romana

Cedar Invest

CVI Dom Maklerski



Erste Group Bank

European Fund for Southeast Europe (EFSE)

European Investment Bank (EIB)

Gemcorp Capital

International Finance Corporation (IFC)

OTP Bank

Raiffeisen Bank Romania

Spaceplus SRL

Work highlights

  • Advising AFI on obtaining a €450m credit facility for refinancing its three shopping centres in Romania.
  • Advising Erste Group Bank, Banca Comercială Română, OTP Bank Nyrt, OTP Bank Romania and Raiffeisenlandesbank Niederösterreich-Wien on a €410m credit facility granted to Iulius Group.
  • Advising Erste Group Bank and Raiffeisen Bank as lenders of a 5-year term secured green loan granted to NEPI Rockcastle.

Bohalteanu şi Asociaţii

Bohalteanu şi Asociaţii is a strong choice for banking regulatory matters, and is well versed in assisting with digital lending and consumer finance issues. Real estate asset financing and loan restructurings are other key drivers of work for the group. Daniela Milculescu heads up the practice, and has extensive experience in handling high-profile finance transactions, as well as complex loan restructuring matters for international and domestic banks. She is ably supported by Andreea Roman and Andrei Cimpan.

Practice head(s):

Daniela Milculescu

Other key lawyers:

Andreea Roman; Andrei Cimpan


‘The team at Bohalteanu si Asociatii is known for its innovative problem-solving. They don’t just follow conventional paths but seek out fresh and creative solutions to legal challenges. This innovative mindset has consistently delivered outstanding results for us.’

‘Partner Daniela Milculescu stands out in her field due to her exceptional qualities and professional demeanor. Daniela is an expert in banking and finance law, and her knowledge in this area is both deep and comprehensive, as she approaches her work with the utmost professionalism. Her attention to detail, commitment to deadlines, and adherence to the highest ethical standards consistently impress us. We can always rely on her to handle mandates with precision and integrity.’

‘This is a law firm comprised of young attorneys who possess excellent business acumen. They are professionals and experts in various fields relevant to a company in the financial and insurance industry, much like the one I am employed by. I highly appreciate the collaboration we share with them, their straightforward approach to tackling sensitive issues, and their keen ability to thoroughly assess all the risks associated with our new business initiatives, while also offering practical solutions.’

Bulboaca & Asociatii

At Bulboaca & Asociatii, the banking and finance team regularly advises financial institutions, funds, companies, and company shareholders on acquisition finance and NPL transactions, to name a couple of areas of expertise. Practice head Adrian-Catalin Bulboaca is the key contact.

Practice head(s):

Adrian-Catalin Bulboaca


‘Personally dedicated, full service, vast knowledge of Romanian and European law, combined with practical advice from lived experience.’

‘Adrian-Catalin Bulboaca stands out. His knowledge, experience, drive and dedication to client service – unimpeachable.’

Work highlights

  • Assisting the banking syndicate of Banca Comercială Română, CEC Bank, OTP Bank, EximBank, First Bank and Intesa Sanpaolo Bank with granting an extension of credit facilities to the Carmistin Group.
  • Assisting Canpack Romania with local matters relating to a new €100m revolving credit facility.

DLA Piper Dinu SCA

DLA Piper Dinu SCA's team is noted for its strength in bilateral and syndicate financing, financial restructuring matters, and financial regulatory and compliance issues. Ioan Chiper heads up the practice; he is ably supported by Andreea Badea, who acts for international and domestic clients, and Georgiana Stan.

Practice head(s):

Ioan Chiper

Other key lawyers:

Georgiana Stan; Andreea Badea


‘Professional staff, fast acting and customer care skills. Resolving any blockage without bothering their clients with administrative issues.’

‘I would recommend Georgiana Stan as a trustworthy lawyer and a pleasant person to work with.’

Key clients

KT Engineering Co.

The Phoenix Insurance Company LTD and The Phoenix Pension and Provident Fund


Work highlights

  • Advising KT Engineering on debt recovery proceedings linked to the construction and operation of three photovoltaic park projects in Romania.

Dragne & Asociatii SCA

The banking and finance practice at Dragne & Asociatii SCA is well versed in handling contentious matters in the space. The team has seen an increase in advisory work, and has been kept busy advising on investments and loan restructurings. The client roster includes commercial and investment banks. The practice is jointly led by the quartet of Andreia Oana Dumitrescu, Daniel Cirstea, Delia Boșman and Stelian Garofil.

Practice head(s):

Stelian Garofil; Delia Bosman; Andreia Oana Dumitrescu; Daniel Cirstea

Other key lawyers:

Raluca Gune


‘Cleverness, hard-work, open-mindedness, easy to collaborate with.’

‘Exquisite professionals and open to alternative approaches, collaborative, always ready to answer.’

‘In collaboration, I appreciated the proactivity of the team I worked with and the fact that they perfectly framed the business aspects that would contribute to the success of the case in the legal provisions.’

‘We recommend Raluca Gune and Andreia Dumitrescu.’

KPMG Legal - Toncescu & Partners SPRL

With a strong track record for advising on banking and finance regulatory issues in Romania, KPMG Legal - Toncescu & Partners SPRL‘s team acts for a number of international banks and financial institutions with operations or transactions in Romania. Laura Toncescu heads up the practice, and brings two decades of experience in the sector. Other key practitioners include Sebastian Olteanu, who is well versed in assisting multinational entities with financial services transactions, Cristina Rosu, Günay Duagi and Raul Dimitriu.

Practice head(s):

Laura Toncescu

Other key lawyers:

Sebastian Olteanu; Cristina Rosu; Günay Duagi; Raul Dimitriu


‘In our collaboration, the team was open to extend actions in order to achieve our startup goals in regulatory licensing.’

‘Detailed advice on Romanian finance law in context of complex multi-jurisdictional financing.’

‘Very detailed answers to queries.’

Key clients

Porsche Finance Group

EOS Group

Alpha Bank Romania SA

Pepco Group Limited / Pepco Group Services Limited

Banca Comerciala Romana SA (BCR)

Heyblu Ifn S.A.

Garanti Bank S.A.

Token Payment Services SRL

BRD – Groupe Societe Generale S.A.

First Bank SA

AMCC (Romanian Debt collection Association)

Work highlights

  • Assisting Alpha Bank Romania with updating legal documentation in accordance with latest changes in specific legislation.
  • Acting for Porsche Bank Romania on its intended reorganisation in Romania.
  • Advised the client on a multi-million euro cross-border transaction.

Leroy si Asociatii

Leroy si Asociatii's practice frequently acts for borrowers in a range of industries, and fields experience in handling both domestic and cross-border matters. The group is well versed in advising public bodies in Romania on financial regulatory matters. Andreea Toma heads up the practice, and regularly handles transactional work. She is ably supported by Cristian Bumbac and Adriana Spataru.

Practice head(s):

Andreea Toma

Other key lawyers:

Cristian Bumbac; Adriana Spataru


‘We have collaborated with Leroy si Asociatii for a long period of time. We assess their work as high quality, professional and focused to meet requirements and deadlines.’

‘During the structuring and design of different financing transactions and negotiations the representatives of Leroy si Asociatii showed a very good understanding of the nature of transaction and proved to be business oriented, solving in a timely manner all issues raised and positively addressing the points of negotiations.’

Key clients

Expert Petroleum


The International Capital Market Association (ICMA)

The International Securities Lending Association (ISLA)

The International Swaps and Derivatives Association (ISDA)

The European Bank for Reconstruction and Development (EBRD)

The European Federation of Energy Traders (EFET)



Work highlights

  • Provides ongoing assistance to ISDA with updating the Romanian Netting, Collateral Provider, Collateral Taker and Clearing Members Reliance opinions it publishes on its website.

Peli Partners

Peli Partners' practice stands out for its 'deep understanding of the real estate banking sector'. The team is well versed in handling a range of transactional matters for a client roster of investment entities and companies. Carmen Peli heads up the practice and is ably supported by senior associate Delia Lepadatu.

Practice head(s):

Carmen Peli

Other key lawyers:

Delia Lepadatu


‘We recommend Carmen Peli and Delia Lepadatu.’

‘Very strong team of professionals, well coordinated and good knowledge of the sector.’

‘Peli Partners’ team is one of the best known teams on the financial banking services market in Romania.’

‘Peli Partners has a deep understanding of the real estate banking sector.’

‘Carmen Peli stands out.’

‘Highly experienced team, very practical, client and solution oriented, strong attention to practices and evolutions re: laws & regulations.’

‘Delia Lepadatu: always available for legal advise, solution oriented, very strong diligence and attention to detail.’

Key clients

Mitiska REIM

Anchor Group

Scallier Group

Mega Company (Salah Turkmani)

Portland Trust

Jupiter Group

Niro Investment Group

Work highlights

  • Assisting Mitiska REIM with refinancing its entire retail park portfolio in Romania for an aggregate value of €123m.
  • Advising the Anchor Group on refinancing its portfolio of office building and malls with a loan amount of €80m.
  • Provides ongoing advice to Scallier Group on several financing structures with an aggregate value exceeding €40m, involving multiple Romanian banks, for the purpose of developing retail parks across the country.

Popovici Nitu Stoica & Asociatii

The finance team at Popovici Nitu Stoica & Asociatii is adept at acting on both borrower and lender sides of financial transactions, and is well versed at acting for banks with Romanian operations. Fintech work is a specialist area of focus for the group. Bogdan Stoica is the practice head; Alexandru Ambrozie and Ioana Lazar are other key names to note.

Practice head(s):

Bogdan Stoica

Other key lawyers:

Alexandru Ambrozie; Ioana Lazar


‘Always close to the client’s needs, acting somehow like an extension of the company; flexible, business oriented, always available and problem solving. Very good professionals, nice people. A pleasure to make a team with them for any project and these “attributes” and spirit are seen for the whole company (from associate to partner). Fees well calibrated for each project.’

‘We have been working for many years in complex financing arrangements with PNSA. They do credit, debt, financial instruments, capital markets, project finance, operating a large experienced team.’

‘Alexandru Ambrozie, Bogdan Stoica and Ioana Lazar are all experienced and pragmatic. With Alexandru Ambrozie we have worked constantly for a very long time.’

Key clients

BRD Société Générale

Banque Banorient France

Franklin Templeton Investment Management Limited United Kingdom

Libra Internet Bank

Deutsche Leasing

The Governor and Company of the Bank of Ireland

Ameropa Group/Ameropa Grains/ Azomures/Chimpex

KBC Bank


Work highlights

  • Advised the Ameropa Group on financings worth €550m.
  • Advised Paval Holding on two credit facilities from Raiffeisen Bank relating to the acquisition of U Center 1.


Volciuc-Ionescu fields a team with established strength in advising on prominent cross-border finance matters, often acting as Romanian legal counsel to clients. Sabin Volciuc-Ionescu is the managing partner of the firm and heads up the banking and finance practice, drawing on 20 years of experience to assist with a wide range of project finance work; energy finance matters are a key area of instruction. Senior associate Diana Tudor is a name to note.

Practice head(s):

Sabin Volciuc-Ionescu

Other key lawyers:

Diana Tudor


‘Outstanding law form for banking & finance in Romania.’

‘Exceptional legal knowledge and network, quick turnarounds, and efficiency; no overcomplicating things but observing the client’s interests.’

Key clients

Banca Comerciala Romana

Bank of China

Banca Transilvania

Deutsche Bank


J&T Banka

Societe Generale

Work highlights

  • Advised a syndicate of German banks on the refinancing of German group PMG.
  • Advised IFC on issuing a high-value financing in the retail sector in Romania.
  • Advised Banca Transilvania on a financing to Roca Investments for the acquisition of Dial SRL.

Zamfirescu Racoti Vasile & Partners

Elena Iacob and Ioana Racoti co-head the banking and finance practice at Zamfirescu Racoti Vasile & Partners, which is highly regarded for its strong track record in representing banks and financial institutions in Romania. Green financing matters have been prominent in the team's recent workload, and the group is also adept at handling banking regulatory issues.

Practice head(s):

Ioana Racoti; Elena Iacob


‘ZRVP is a team of highly professional lawyers providing a large array of services in Romania and abroad and delivering a high value for the money invested.’

‘Ioana Racoti – a very talented, skilled, hands on partner, with a huge attention to the details of each legal matter.’

‘Elena Iacob – a young partner with special skills in the field of the banking and finance matters and also in the competition matters, highly recommended for complex transactions.’


Key clients

Garanti Bank

DHB Bank

First Bank


UniCredit Bank

Hora Credit IFN

Piraeus Bank

Vimetco Extrusion

Romanian Banks Association

Access Financial Services


Work highlights

  • Advised Alro on a RON470m working capital loan from a syndicate of banks coordinated and arranged by Eximbank.
  • Advised Alum on the extension of a $3m facility.