Prima pagină » English » Romanian Bks’ Parent Cos Are Required To Support The Economy – Pres

Romanian Bks’ Parent Cos Are Required To Support The Economy – Pres

Romanian President Traian Basescu said Tuesday that parent banks of Romanian lenders are required to ensure the needed funds for financing Romanian economy.
Romanian Bks’ Parent Cos Are Required To Support The Economy - Pres
03 feb. 2009, 18:32, English

“We are for larger responsibilities of the banks which are the majority owners of Romanian banks (…) The banks are solid, but the … majority shareholders are required to continue to ensure the Romanian banks … with the needed resources to finance the economic activities in Romania,” Basescu said.
 
He said he would bring the subject “steadily acknowledged” to the European Council in March.
 
“One (parent bank – e. n.) cannot be happy when a bank is privatized and not assume any commitments to the Romanian economy later on,” Basescu also said.
 
The president added that Romania should not be forced to borrow money to replace the mother banks’ obligations to the local lenders.
 
Upper House Speaker Mircea Geoana said Wednesday in a TV show that he spoke to some foreign ambassadors, including the ambassadors of Austria and France in Bucharest, whose countries have banks in Romania, which said to him the mother-banks began withdrawing their funds… as they want to consolidate at home.
 
However, Nicolae Cinteza, the surveillance director in the country’s central bank BNR, told Ziarul Financiar business newspaper that Romania has a well-capitalized and solvable banking system, above the required limits.
 
On Tuesday, the central bank’s chief economist Valentin Lazea also said the parent banks will totally renew the credit lines for their Romanian units.
 
Lazea’s opinion was also corroborated by the chief economist of UniCredit Tiriac Bank, Rozalia Pal, and Petre Bunescu, the deputy general manager of Romania’s second largest bank by assets, BRD.