If using the Greek model, one option might be Alpha Bank-Bancpost, which would retain one of the oldest and most valuable local brands.
As for the top management, an unusual option was chosen in Greece, i.e. two co-CEOs, one from Alpha and one from Eurobank, set to remain in place for the integration period estimated at three years. Romanian legislation, however, does not allow for such an arrangement, which would keep both Sergiu Oprescu (Alpha) and Peter Weiss (Bancpost) at the helm.
Nicolae Cinteza, head of National Bank of Romania’s Supervisory Department, believes the merger of the two banks is a very good move. “It is exactly what we expect – bigger and stronger banks. Both banks have quite high solvency ratios, so that the new entity will not need additional capital and I don’t see any particular problems with non-performing loans, either.” He thinks Alpha and Bancpost’s balance sheet integration could be completed in the first half of next year.
(English version by Loredana Fratila-Cristescu)