National Bank of Greece is trying to sell Banca Romaneasca for the second time after the failed sale to OTP Bank in mid this year. The contenders in the final acquisition stage are state-run Eximbank and J.C. Flowers, which bought the local operation of Piraeus Bank and rebranded it to First Bank.
According to the quoted sources, the NBG is trying to reach an agreement with a buyer by yearend.
Eximbank bid higher than J.C. Flowers, in addition to the conditions of the deal, the sources added.
Eximbank hired the London arm of US-held JP Morgan to assist it in the deal. NBG works with Credit Suisse London.
Traian Halalai, Eximbank’s CEO was Banca Romaneasca COO before joining the former.
If Eximbank succeeds in buying Banca Romaneasca, the move will be a first for the Romanian market, i.e. a state-run bank buying a private bank.
(English version by Loredana Fratila-Cristescu)