Pierre Martin has been the bank’s general manager, as well, since early 2010, when the local banks was called Emporiki.
Credit Agricole bought Greece’s Emporiki group in 2006, but the Romanian subsidiary remained under Athens’ control. The French owners, however, started the integration of Emporiki Bank Romania in 2009.
In 2012, Credit Agricole sold Emporiki but kept the subsidiaries in the region, which were transferred under its own brand. Thus, it replaced the Emporiki logo on all the 29 branches of Emporiki Bank Romania.
Credit Agricole is majority owned through a special vehicle, IUB Holding, which means the Romanian operations are not of strategic importance for the group and may be sold in any moment.
Rumors said the bank would be put up for sale. Though Crédit Agricole is one of the most powerful French banks, the Bucharest-based subsidiary is an average player in the local banking system, with a 0.4% market share end-2014.
(English version by Manuela Panescu)