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Romania’s Ctrl Bk OKs Raiffeissen Banca pentru Locuinte, HVB Banca pentru Locuinte Merger

Romania’s central bank BNR approved the merger between lenders Raiffeissen Banca pentru Locuinte (RBL) and HVB Banca pentru Locuinte (HVB BpL) that was registered at the Bucharest Trade Register Office on December 1.
Romania’s Ctrl Bk OKs Raiffeissen Banca pentru Locuinte, HVB Banca pentru Locuinte Merger
15 dec. 2009, 13:25, English

The merger process will be completed by the end of the first quarter in 2010.

Moreover, BNR also approved Andrei Stamatian for the position of RBL president, and Aurelia Cionga and Marius Solescu as vice presidents, the lender said Tuesday in a press release.

Fowling the lenders’ merger, RBL rose its share capital from 96 million lei (EUR1=RON4.2513) to RON131.07 million.

„The capital growth is a confirmation of the bank’s stability on the saving-lending market that started with the decision to buy HVB BpL, followed by reaching a profit of around EUR1 million in the first half of 2009,” Stamatian said Tuesday.

BCR Banca pentru Locuinte is another lender activating on the local saving-lending market, that was set up in April 2008 and started its activity last July.