The bank can honor all potential reimbursement requests from customers, Nicolae Cinteza told Mediafax in an interview.
Cinteza said depositors in Bank of Cyprus Romania will be able to access their accounts starting with April 29, as Marfin needs a few days to verify the accounts.
He said Marfin is a Romanian bank with foreign capital and therefore subject to local bank laws.
“I want to reiterate that the deposits are now guaranteed by the Romanian Bank Deposit Guarantee Fund and, considering Marfin Bank’s solvency ratio, I have no doubts whatsoever that the central bank will provide the necessary liquidity so that the bank can handle any requests, as per Romanian laws,” Cinteza said.
The Cypriot central bank Thursday authorized the transfer of Bank of Cyprus’ deposits in Romania to Marfin Bank, the local unit of Cyprus Popular Bank.
The transaction also entails the transfer of equivalent cash and retail loans, as well as of the loans granted to small and medium-sized enterprises.
Following the move, Marfin Bank Romania will benefit from a EUR20 million cash injection from Cyprus.
Marfin Bank operates 33 units in Romania and employs 340 staff. The bank will also take over part of the employees of Bank of Cyprus Romania.
End-2012, Marfin Bank had total loans worth 1.6 billion lei (EUR367 million), while overall deposits were a little under RON1 billion.
Marfin Bank’s solvency ratio was 12% at the end of December.