The intention has already been announced in private talks, but the presentation for the sale has not be officially launched yet, banking sources added.
Banca Romaneasca ranks 14th in Romania’s banking system, with a 1.8% market share and 6.6 billion lei (EUR1.45 billion) assets at the end of 2015. Banca Romaneasca lost 1.1% market share and RON2.5 billion assets during the crisis.
The bank’s future has been discussed for a number of years but nothing has happened so far, considering the pride of the bosses in Athens of the four Greek-held banks in Romania was stronger than going for the reasonable solution of a merger.
Following the Greek crisis, the four Greek banks in Romania – Alpha Bank, Bancpost, Piraeus and Banca Romaneasca, lost ground but the parent banks in Athens failed to reach an agreement to create two strong lenders capable of coping on a banking market that is trying to find resources for growth. Organic growth is extremely difficult for all banks on such a market, which is why those that have the necessary resources try to find acquisition targets to boost assets and cut costs. (EUR1=RON4.5218)
(English version by Loredana Fratila-Cristescu)