The mentioned share capital increase is set to double the bank’s investment over the next two years.
“Volksbank Romania will continue to operate in Romania, and the possibility for an interruption in activity is out of the question! In addition, right now there are no talks on selling the bank in the near future,” Lurf said.
Lender Volksbank Romania will be transferred to a new division of Austrian group Volksbank, which includes non-core businesses, along with Volksbank Leasing International and Volksbank Malta.
“The recent announcements by majority shareholder (…) do not imply a new approach by the shareholders regarding assets in Romania. This is a formalization of the strategy announced in summer. According to this strategy, Volksbank Romania will be revitalized and sold within several years, when market conditions are proper,” Lurf explained.
Volksbank reduced its number of branches to 135, from 182 at the end of last year, and bank representatives said they are not ruling out the closing of more branches, based on efficiency criteria.
Recently, Volksbank AG completed the sale of its eastern European arm Volksbank International, excluding Volksbank Romania, to Russia’s largest lender Sberbank.