Eximbank buys Banca Romaneasca from NBG

Eximbank, a Romanian state-owned bank, has secured a deal to acquire Banca Romaneasca from the Greek group NBG for an amount of 250-350 million Euro.

National Bank of Greece was forced to sell Banca Romaneasca due to troubles on its domestic market and failed to close a transaction with OTP Bank last year due to Romanian central bank’s opposition.

Eximbank and J.C Flowers, who bought Piraeus Bank, entered the final phase of acquisition, Business Review reads.

“We trust that the new entity will act as an important factor in supporting the economic growth of the country through the financial support it will give to all market segments, whether we are talking about individuals or companies,” Eugen Teodorovici, the Romanian Minister of Finance, said in a press release.