Orange’s Romania unit struck a deal to transfer ownership of its digital bank to the local arm of Alpha Bank, a move coming two months after the operator group outlined plans to exit retail financial services in France and Spain.

In its statement, Orange Romania explained the exit will allow it to focus on a local growth strategy based on connectivity services and integrated digital products, while noting the change was also in line with group-wide aims.

Orange Money launched in the country in 2016 and comprises various digital banking services, including provision of credit and debit cards and enabling mobile payments.

The deal involves the transfer of its financial technology platform, customers and products, alongside staff and arrangements with suppliers, to Alpha Bank Romania.

Financial terms of the transaction were not disclosed.

Orange Money Romania CEO Haris Hanif said transferring its banking arm achieved the unit’s “strategic approach” of “the integration of the application and its products into a banking ecosystem”.

“Alpha Bank’s experience will provide continuity to our customers and their banking products will enrich the suite of services that Orange Money users have access to today,” he added.

The operator highlighted the deal only covered its operations in Romania and would be completed after achieving regulatory approvals and finalising other standard procedures.

In June, Orange entered exclusive talks on a deal with BNP Paribas with a view to the financial company taking over Orange Bank in France and Spain.