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Credit Agricole to sell Romanian unit to Vista Bank Romania

Banking

Image by Roman Motizov / Shutterstock.com

French banking group Credit Agricole said that it has signed an agreement to sell its Romanian subsidiary to Vista Bank Romania, according to a report by SeeNews.

The transaction is expected to be completed in the first part of the year and is pending approval from Romania's national bank and anti-trust body, Credit Agricole said in a press release on late Monday. The value of the deal was not disclosed.

Credit Agricole Romania was established in 2010, following the acquisition of Emporiki Bank, including its regional subsidiaries, by Credit Agricole, the third largest banking group in Europe by assets in 2019. The bank provides a broad range of products and services and its main focus is on the SMEs active in the agribusiness segments. Vista Bank Romania operates 31 subsidiaries in Romania. 

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