Final bids for Credit Agricole’s RO branch expected by mid-Dec

The final bids for the Romanian subsidiary of French group Credit Agricole are expected by mid December, Ziarul Financiar daily announced.

UniCredit Vienna is handling the sale process. Greek group Alpha Bank and Vista Bank, also owned by Greek investors, have remained in the race for Crédit Agricole’s Romanian branch, after the US investment fund JC Flowers (which recently acquired Piraeus Bank and Leumi Bank), announced it was no longer interested in this acquisition.

Crédit Agricole Romania has assets worth RON 1.9 billion (EUR 400 million) and a 0.42% market share, ranking 23rd in the local banks’ ranking. The bank's own funds, meaning the share capital plus reserves, amounted to RON 179 mln (EUR 38 mln).

(Photo: Shutterstock)