Romania’s EximBank concludes Banca Romaneasca takeover

Competition

Romania’s EximBank (Banca de Import Export a Romaniei) has concluded the acquisition of Banca Romaneasca SA (BROM), with the submitted bid being part of a deal agreed in June 2019 between EximBank and National Bank of Greece (NBG) on the purchase of the latter’s 99.28% stake in BROM, the bank said in a release.

Graphic by AlexLMX/Shutterstock.com

The new entity will rank among the top 10 banks in Romania, with a market share of approximately 3%, Romania Journal reported.

OTP Bank Romania, the local unit of the Hungarian lender OTP, had also expressed interest in acquiring the 99.28% stake in Banca Romaneasca, but the National Bank of Romania (BNR) opposed the takeover in March 2018, although the Competition Council had authorized the operation. 

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