EximBank acquires Banca Românească

Bucharest, 20 June 2019 – EximBank and National Bank of Greece (NBG) signed an agreement regarding the purchase of NBG’s equity holding of 99.28% in Banca Românească (BROM). 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 10 largest lenders.

„As the majority shareholder of EximBank, The Ministry of Public Finance has always believed in the outstanding potential of this endeavour, which accomplishes the Romanian authorities’ ongoing concern to strengthen the presence, the role and the systemic impact of state-controlled banks on the domestic market. We are confident that the new entity will play a key role in supporting the country’s economic growth through the financial support that will be offered to all relevant market segments, whether they be private individuals or businesses”, said Eugen Teodorovici, the Minister of Public Finance.

„I am delighted to announce this transaction that leads to the creation of a benchmark Romanian bank that will capitalise on both BROM’s experience in the retail banking segment and EximBank’s time proven ability to support the domestic business environment. Since its establishing 27 years ago, EximBank has constantly re-shaped and modernized in order to keep pace with the banking system evolution and the clients’ up graded demands and this step clearly represents a major achievement in our bank’s history”, said Traian Halalai, Executive President of EximBank.

The closing of the transaction is subject to the fulfilment of all the necessary regulatory requirements.

J.P. Morgan Securities plc acted as sole financial advisor to EximBank in relation to this transaction. EximBank was also assisted by Pricewaterhouse Coopers Management Consultants SRL, while Linklaters LLP acted as international legal counsel and Bulboaca & Associates as local legal counsel to EximBank.