Eurobank to sell Romanian subsidiary Bancpost by year-end

Greek group EFG Eurobank plans to finalize the sale of its local subsidiary Bancpost by year-end, thus ending the restructuring of its international activities, according to Greek publication Kathimerini. Bancpost was the ninth largest lender in Romania at the end of 2016, with EUR 2.56 billion in assets and a market share of 2.96%. It has a network of 174 branches in Romania and 2,255 employees. The sale of the bank could be closed by the end of this month, Ziarul Financiar reported. Banca Transilvania is said to be one of the top contenders in taking over the Greek-owned lender. Investment funds J.C. Flowers and Varde are also looking to acquire the bank. Eurobank sold in 2014 its Ukrainian division for EUR 95 million. It will keep its operations in Bulgaria, Cyprus, Serbia and Luxembourg. NBG, another Greek financial group is also close to announcing the buyer of its Romanian subsidiary Banca Romaneasca. Piraeus Bank will also put up for sale its local assets. Eight investors express interest to buy Romanian lender Bancpost editor@romania-insider.com