Romania’s competition authority announced on Tuesday, September 3, it will analyse the recent takeover of Banca Romaneasca by EximBank for compliance with antitrust regulations.
“In order to determine if the concentration is compatible with a normal competitive environment, the Competition Council will consider the notified transaction under the merger regulation,” it said in a statement.
In June, EximBank stated it had signed an agreement with National Bank of Greece (NBG) for the purchase of NBG’s equity holding of 99.28% in Banca Romaneasca for an undisclosed sum.
Subsequent to the completion of the transaction, EximBank will enter the domestic retail banking market, thus becoming a universal commercial bank. As a consequence, EximBank’s market share will increase to approximately 3%, which will place it among Romania’s top ten largest lenders, EximBank stated at the time.
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