BNR Exchange Rates
21.05.2012- 1 EUR
4.4408 RON - 1 USD 3.4767 RON
- 1 CHF 3.6976 RON
- 1 GBP 5.5015 RON
- 1 gr. aur177.7840 RON
Final lap for RBS Romania saleUpdated: 18-06-2009 |
Major lenders on the international financial market, such as Deutsche Bank (Germany), HSBC (United Kingdom), BNP Paribas (France), EFG Eurobank (Greece), as well as Dinu Patriciu, one of Romania's wealthiest businessmen, are competing to acquire the local subsidiary of the Royal Bank of Scotland (RBS), according to financial market sources for Business Standard.
The sale is to enter its final lap in one month, when the lender that is most interested in increasing its portfolio with RBS Romania is to be made known. After that, the buyer will agree with RBS on the final price and takeover conditions.
RBS Romania is ranked 12th in the local banking system, in terms of assets. Its capital amounts to some €200 million, which means that the sale price will be about €400 million.
"According to my information, the process will be finalized by this fall," a Deutsche Bank source said, thereby confirming that the lender is interested in the acquisition.
The sale of RBS subsidiaries in Romania and Slovakia is being handled by the Swiss UBS investment bank, which is providing advisory services throughout the process.
Contacted by Business Standard, RBS Romania representatives declined to comment on the issue.
Neither officials of EFG Eurobank, which owns the Bancpost lender in Romania, nor businessman Dinu Patriciu, were available for comment before the closing of the print edition.
The President of RBS Romania, Peter Weiss, told Business Standard in a recent interview that the sale could take place in the second half of the year, and that the local subsidiary will be sold separately, rather than with other subsidiaries of the group.
Following tens of millions of euro in losses, the RBS group decided to forego operations on 15 markets, including Romania.
Latest News:
- Millennium Bank increases uncollateralized cash loans maximum amount
- Customers Benefit from Satisfaction Guarantee with All Consumer Banking Products from Citibank
- Call for Entries for Deloitte Central Europe Technology Fast 50 2012
- Millennium Bank offers term deposits with monthly interest payment
- Deloitte European Salary Survey: Sweden, Belgium and the Netherlands, at the top of the pyramid of the tax systems
- Citibank Romania Announces New Partnerships Extending its ATM and Repayment Network by 500 Locations Countrywide
- NBR delivers a silver coin dedicated to Sergiu Celibidache – 100 years since his birth.
- MILLENNIUM BCP NAMED BEST BANK IN PORTUGAL FOR SECOND STRAIGHT YEAR BY EMEA FINANCE
- PwC Romania awarded by the Babes-Bolyai University
- COSMOTE Romania launches a new advertising campaign promoting its Business Portfolio
- On April, National Bank of Romania's foreign exchange reserves stood at EUR 34,336 million
- BCR achieves solid quarterly operating result despite economic slowdown
- The National Bank keeps unchanged the monetary rate
- Tomas Spurny begins mandate as BCR CEO
- PIC reorganization plan approved by creditors and confirmed by the syndic judge
Most Popular News
- Three billion euros to be invested in energy private-public partnerships
- Romanian state plans to keep 8 pct of Petrom, at least
- IMF mission extends stay in Romania till May 9
- IMF, FinMin Vladescu discuss Government revenues collection
- Videanu admits that he is in conflict of interests in connection to Marmosim
- Greece gets 110 billion euros, biggest bailout in history
- BNR governor Mugur Isarescu: Situation is quite complicated
- Romanian-German meeting on fresh cooperation opportunities
- Gov't to earmark 6.4pc of GDP for investment
- FinMin Vladescu: Cutting 25pc off public wages pool will not generate needed savings
