Raiffeisen Bank Official: Foreign Banks Won’t Leave Romania Despite Crisis

Foreign banks will not exit the Romanian market no matter how big problems in the euro zone are, Raiffeisen Bank president Steven van Groeningen said in an interview broadcast Sunday on private television Pro TV.

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Banks might merge or sell their Romanian business to other lenders, said van Groeningen, adding that he expects no major bank will leave Romania.

He also pointed out that financial difficulties in Western Europe make the reduction of interest rates on euro loans impossible.

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