BUSINESS

Romanian Banca Transilvania gets approval to buy Greek Eurobank's Bancpost

TAGS: Banking

Romanian lender Banca Transilvania said on Friday it has received regulatory approval from the country’s competition watchdog and the central bank to buy Greek Eurobank’s Romanian subsidiary Bancpost.

“Banca Transilvania estimates that the closing of the transaction regarding the acquisition of Bancpost will take place during the first half of April 2018,” it said in a statement.

Greek banks have been divesting assets and foreign subsidiaries to focus on their domestic market under a restructuring drive.

On Thursday, Romania’s central bank said it had rejected Hungary’s OTP Bank’s acquisition of Banca Romaneasca from the National Bank of Greece.

[Reuters] 

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