Two left in race for Credit Agricole’s Romanian branch

Alpha Bank and Vista Bank have remained in the race for French group Crédit Agricole’s Romanian branch, after the US investment fund JC Flowers (which recently acquired Piraeus Bank and Leumi Bank), is no longer interested, Ziarul Financiar reported.

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).

Alpha Bank Romania, the only Greek owned bank still on the market, is trying to rebuild its position and gain new business. At the beginning of the crisis, in 2009, before the onset of the Greek crisis, Alpha Bank Romania was the third largest bank in the country. At the end of last year, Alpha Bank was on 8th place, with assets of RON 16.9 bln and a market share of 3.76%.

Vista Bank, formerly Marfin Bank, was bought by the Vardinogiannis family from Greece, which plans to consolidate local operations both organically and through acquisitions. At the end of last year, Vista Bank ranked as the 22nd largest local lender, with assets of RON 1.9 bln and a market share of 0.44%.

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