“Media reports about foreign banks wanting to withdraw from the market are inexact. Of course, there are banks where we could see a change in shareholder structure, but this is a common occurrence everywhere in the world,” Vasilescu said.
Romanian banking market offers several opportunities to investors, as existing bankers are looking to sell. Royal Bank of Scotland is in talks with several peers to sell its Romanian subsidiary, while ATEbank, one of the six Greek banks with activities on the local market, announced plans to sell its majority stake in ATEbank Romania.
“A bank is not a car that you can sell in Romania and take it home with you in Germany, Austria or elsewhere. A bank is a Romanian financial institution and it stays in Romania, together with all its assets and the responsibility to manage the accounts of its clients to the last penny,” Vasilescu said.
“The local deposits are safe and they are guaranteed by the state, while the bank’s operations carry on with a different investor,” he added.
Moreover, any purchase or merger on the Romanian banking market is closely monitored by the central bank.
“Potential buyers must obtain authorization from the central bank,” Vasilescu said.