The Supervision Department within Romania's National Bank (BNR), which oversees the local commercial banks, will have new management from October 1.

Adrian Cosmescu will take over as director of this department, a position previously held by Nicolae Cinteză, who retired on August 1.

Adrian Cosmescu has a career of over 20 years in banking supervision and has been Cinteza's deputy since 1999.

Nicolae Cătălin Davidescu will be the new deputy director. He has 17 years of experience in the department, and since 2016 he has been the head of the Monitoring Service, monitoring the application of international sanctions, preventing money laundering, and terrorist financing.

According to its statute, BNR is responsible for the prudential supervision of credit institutions to ensure the banking system's functioning and viability.

(Photo: LCVA/ Dreamstime)

andrei@romania-insider.com