Foreign banks interested in RomaniaPublish date: 05-11-2008
Some foreign banks are likely to be interested in acquisitions in Romania next year, which could lead to local banking market consolidation, according to the President of Raiffeisen Bank Romania, Steven van Groningen. "It is very difficult to make forecasts, given that banks currently need to solve their domestic problems," he added.
Furthermore, according to van Groningen, foreign markets believe that Romania is a high risk country, in terms of economic stability. Speaking of the reduction of financing lines by mother banks to their subsidiaries in Romania, van Groningen said this will be an indirect effect of the foreign currency lending slowdown.
"There will definitely be a shift from foreign currency loans to lei-denominated loans," he added. van Groningen also indicated that all lenders should attempt to attract more deposits and grant fewer loans. He said that a slowdown in lending is positive for the banking system.
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