American fund could take over three banks in Romania

US investment fund JC Flowers could also buy local lender Marfin Bank Romania, according to sources in the banking sector cited by local Economica.net. The fund is close to acquiring two other Romanian banks: Banca Comercială Carpatica and Piraeus Bank Romania. Marfin Bank Romania is the local subsidiary of the Cyprus-based Marfin Bank. If the US fund manages to buy all three local banks, it will reach a share of 4.1% in the Romanian banking system. French and Spanish banks have recently acquired stakes in Greek and Turkish banks that have subsidiaries in Romania. Greek and Turkish capital in the local banking system could thus diminish. The top 10 largest Romanian banks will probably look different next year. Austrian groups will continue to dominate, with a 30% market share, followed by Romanian capital, with a 20% market share. Italian, Dutch, and US capital come next. editor@romania-insider.com