The sale of Romanian lender Banca Romaneasca may be signed by the end of this year

The sale of local lender Banca Romaneasca by Greek group NBG may be signed by the end of this year. The shortlist of bidders that will be accepted in the due diligence process is currently in the making, according to sources on the banking market, cited by local Economica.net. Four investors showed interest in the Banca Romaneasca sale. According to market sources, they are U.S. investment fund J.C. Flowers, which has already finalized the acquisition of Piraeus Bank, investment fund Axxess Capital, which last year completed the merger between Patria Bank and Banca Carpatica, Italian group Intesa Sanpaolo Bank and Romanian state-owned lender Eximbank. This is NBG’s second attempt to sell Banca Romaneasca after the sale to Hungarian group OTP Bank was blocked by Romania’s National Bank, in March 2018. Romanian bank put up for sale once again editor@romania-insider.com