Raiffeisen Bank president: Some foreign banks may become interested in Romania in 2009

Marţi, 4 noiembrie 2008, 16:51 English | Business

Next year may be a good time for the consolidation of the Romanian banks' position on the market, given the new circumstances, which boosted the interest of foreign banks towards Romania, said the Raiffeisen Bank Romania president, Steven van Groningen, according to NewsIn.

"It is difficult to estimate what will happen in 2009, but it is possible to see foreign banks interested in acquisitions. Still, banks have first to solve their existing problems", said van Groningen.

Regarding the reducing of financing lines from mother-banks for their Romanian branches, van Groningen mentioned that this situation may only be a secondary effect of less credits in convertible currencies.

"We shall most certainly see a move from credits in other currencies to credits in the Romanian currency", said the Raiffeisen Bank official.