Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian state-owned EximBank pays EUR 59.4 mln to NBG for Banca Romaneasca

Romanian state-owned EximBank paid EUR 59.4 million for a 99.28% stake in the National Bank of Greece - NBG's local subsidiary Banca Romaneasca.

As part of the deal, it also transferred EUR 65 mln to NBG, as a collateral deposit that matured in July 2020 - when all the procedures related to the transaction were completed. The intra-group financing contracted by Banca Romanească from NBG - EUR 90 mln - was reimbursed directly by Banca Romanească to NBG from its own sources, Ziarul Financiar daily wrote, quoting Banca Romaneasca reports.

EximBank finalized on January 23, 2020, the acquisition of 99.28% of the share capital of Banca Romaneasca. With the acquisition, EximBank enters the retail banking segment and turns into a universal bank. The combined bank will be one of the top 10 banks in Romania with a market share of approximately 3%, according to EximBank's press release.

EximBank did not mention the value of the deal or the financing source at the time the takeover was completed. But the bank's CEO, Traian Halalai, claimed that EximBank "already earned" some EUR 70 mln from the deal.

andrei@romania-insider.com

(Photo source: Eximbank.ro)

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian state-owned EximBank pays EUR 59.4 mln to NBG for Banca Romaneasca

Romanian state-owned EximBank paid EUR 59.4 million for a 99.28% stake in the National Bank of Greece - NBG's local subsidiary Banca Romaneasca.

As part of the deal, it also transferred EUR 65 mln to NBG, as a collateral deposit that matured in July 2020 - when all the procedures related to the transaction were completed. The intra-group financing contracted by Banca Romanească from NBG - EUR 90 mln - was reimbursed directly by Banca Romanească to NBG from its own sources, Ziarul Financiar daily wrote, quoting Banca Romaneasca reports.

EximBank finalized on January 23, 2020, the acquisition of 99.28% of the share capital of Banca Romaneasca. With the acquisition, EximBank enters the retail banking segment and turns into a universal bank. The combined bank will be one of the top 10 banks in Romania with a market share of approximately 3%, according to EximBank's press release.

EximBank did not mention the value of the deal or the financing source at the time the takeover was completed. But the bank's CEO, Traian Halalai, claimed that EximBank "already earned" some EUR 70 mln from the deal.

andrei@romania-insider.com

(Photo source: Eximbank.ro)

Normal
 

Help us improve Romania Insider for you