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European Commission: nine European banks reaffirmed their commitment to sustain their Romanian branches

de A.C.
Miercuri, 20 mai 2009, 20:16 English | Top News

Nine European banks - French, Austrian, Greek and Italian - reaffirmed their commitment to sustain their branches in Romania at a meeting in Brussels organized by the European Commission, a press release of the EC informs.

Next week each bank will send an official letter to Romanian authorities in which they express their commitment to support the objectives set in March in Vienna. One important measure is the re-capitalization of their branches in Romania.

Erste Group Bank, Raiffeisen International, Eurobank EFG, National Bank of Greece, Unicredit Group, Société Generale, Alpha Bank, Volksbank, Piraeus Bank were present at Brussels together with representatives from Romania's National Central Bank, EC officials and IMF experts.

Since the meeting in Vienna, Romania's National Central Bank officials conducted a series of stress tests and discussed the results with bank representatives. The main conclusions confirm that the banks are well capitalized and have enough liquidity.

These measures, together with the foreign financial aid will help the Romanian banking system to face the crisis.

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