BANK
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Millennium Bank’s New Strategy Could Entail Selling Romanian Subsidiary
The operations Millennium BCP runs in Poland, Greece and Romania, will from now on be considered by the group as non core, i.e. will be treated as assets no longer essential for the business...
Garanti Head: Turning From Branch To Local Bank Accountable For 2010 Losses
Less than a year after starting operations as a Romanian bank, Garanti Bank recorded profit, in line with the bank’s medium and long term international strategy, says Murat Atay, the bank’s...
Erste Puts EUR600M In Cash And Shares On SIFs’ Table
Erste could announce the offer for 30% in Romania’s largest lender BCR over the next few days. If the deal comes through, Romania will lose the unique opportunity of having its largest bank...
SIFs At Each Other’s Throats Over BCR
As the date agreed for the floatation of Banca Comerciala Romana (BCR), the largest domestic bank, is drawing near, the row among the regional investment funds (SIFs) is getting fiercer.
First Fund “Secured Against Losses”, Beaten By Banking Interest
The OTP Garantis closed-end fund, managed by OTP Asset Management, the first investment fund in Romania to have guaranteed the initially placed equity, has protected investors against plumme...
Banks Have 2,000 Properties For Sale And Start To Cut Asking Prices
Almost 2,200 homes and plots of land, as well as retail space and factories, are currently for sale on the websites of the largest local banks. The number of ads is more than double compared...
Banks And Leasing Companies Control Insurance Brokerage Market
Companies affiliated to banks and to leasing companies control the insurance brokerage market, as access to an extensive territorial network and exclusivity over hundreds of thousands of lea...
Alina Pascu Leaves Banca Feroviara
Alina Pascu has resigned from her position of deputy general manager at Romanian lender Banca Feroviara, controlled by businessman Valer Blidar, after just six months with the bank, said peo...
Why Hungary’s MKB Wants To Sell Romexterra
Assets halving to 1.6 billion lei (about EUR388 million), a 76% rise in provisions for non-performing loans, a 23% personnel cut, the deterioration of the cost/income ratio to over 75% and l...