ING: The Romanian state could finance Greek banks’ local subsidiaries

The Greek banks’ Romanian subsidiaries could receive financing from the Romanian state, to replace financing lines from their parent banks, which are estimated at some EUR 2.5 billion, according to an ING report. “Despite the central bank’s statements that no state funds will be accessed, we are rather skeptical,” reads the ING report, cited by local Mediafax. This measure would increase the budget deficit by up to 1.5% of the GDP and would affect the country’s short-term debt profile. Romania has four banks with Greek capital, namely Alpha Bank, Bancpost (owned by Eurobank), Piraeus and Banca Romaneasca (part of NBG group), which hold 12% of the local bank assets. Bankers: Measures in Greece have limited impact on Romania. editor@romania-insider.com