He thus rivals another Dutchman, Robert Rekkers, who has been chief executive of Banca Transilvania since 2002, as the longest-running bank CEO in Romania.
van Groningen, 53, built Raiffeisen into what it is today on the structure of former Banca Agricola (Agricultural Bank). He managed its strong growth and then an early restructuring, followed by consolidation that helped the bank navigate the crisis without any significant non-performing loan costs and remain one of the most profitable lenders on the market.
Pursuing a strategy that was initially challenged and generated market share loss in 2007 and 2008, the Dutch executive drove the bank into a position where it found it easier to adjust to the decline of the market.
Still, Raiffeisen did not escape the lure of the Swiss franc loans in the boom years, although, unlike other competitors it did not accumulate very risky exposure to the real estate sector.
Banking sources say that the vice-president of treasury and financial markets, US-born James Stewart, got his term extended as well. He is one of the people who built Raiffeisen Bank Romania along with van Groningen and is one of the veterans of the top management team.
van Groningen and Stewart were the first expats the Austrians put at the helm of Raiffeisen-Banca Agricola in 2011, along with Romanian Rasvan Radu who had previously been vice-president at state-owned CEC Bank.
(English version by Loredana Fratila-Cristescu)