The Romexterra Bank will be sold to Hungarian bank MKB soon for a price due to be revealed next week. According to the Romexterra Bank press office, the value of bank assets by end of March 2006 stood at 1,150,000 RON, with a market share of about 1%.
In the first three months of 2006, Romexterra Bank reported a net profit of 8.58 million RON (2.45 million euro), up 77.11% compared to the same period of 2005. By the end of last year, Romexterra Bank announced a gross profit of 22.6 million RON (6.2 million euro), up 120% compared to 2004.
The bank currently holds a network of 41 units and is planning to extend it with 20 new units by the end of 2006.
According to its website, Romexterra has 100,000 shareholders, mostly employees of the Petrom oil group. The rest are Petrom - 2%, various methane gas industry units - 3.23% and private capital firms - 17.63%.
MKB is Hungary’s third largest bank with assets of over 6.5 billion euro, 90% controlled by Bayerische Landesbank, Germany’s seventh largest bank.