Several foreign banks may retreat from Romania, says KPMG partner

Several foreign banks may close operations in Romania, as the support from mother banks will be reduced, according to Agerpres newswire that quotes Cezar Furtuna, partner KPMG Romania and Moldova. This statement was made, today, during the Romanian Banking Forum.

“The distribution of dividends from Romanian branches of foreign banks to mother banks is less likely to happen. But the discussion regarding the staying of foreign banks in Romania is under way. The large banks don’t have intentions to leave the market, but the Romanian banking system has 40 banks, and not all are supported by mother banks. As a result, 2012 may be a year of movements on the financial-banking market”, stated Cezar Furtuna.

Furtuna forecast that banks will restructure the network of banks units in Romania  in 2012. The  banking institutions will focus on internal markets as the liquidity on the financial markets will be scarce. However, the KPMG partner mentioned the selling of non-performings loans as a source of liquidity.

Ovidiu Posirca

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