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Romania Banca Transilvania Works With Competent Authorities To Wipe Out Mkt Rumors

Romanian lender Banca Transilvania (BT) is working with the country’s central bank and prosecutor general to look into market rumors alleging BT is not a solid bank, the lender’s general manager Robert Rekkers said Thursday.
Romania Banca Transilvania Works With Competent Authorities To Wipe Out Mkt Rumors
23 oct. 2008, 15:14, English

Rekkers said the lender successfully overcame the volatility period, adding its shareholders, the European Bank for Reconstruction and Development (EBRD) and the World Bank, all proved supportive in this respect.

Rekkers stressed Romanian lenders are more than safe, adding Romania is a country that offers many opportunities, which also target economic growth.

Last week, Rekkers said the rumors launched against Banca Transilvania caused little harm, stressing the lender is solid, with a high-quality lending portfolio, high solvency and good liquidity.

EBRD, majority shareholder of Banca Transilvania with a 14.97% stake, said it would continue to back the lender, since it has outstanding financial performances.

Central bank governor Mugur Isarescu said the central bank could take harsh measures, which might even trigger license withdrawal for bankers spreading rumors about other lenders.