31.6 C
Bucharest
July 11, 2020
Valahia.News
Image default
Economy International News Romanian News

American Investment Fund to Buy Another Bank in Romania

J.C. Flowers & Co., an American investment fund who is already present in Romania after buying in 2018 the former Piraeus Bank and re-branded it into First Bank Romania, has plans to buy another bank in this country.

First Bank Romania announced on Friday, December 12th, the signing of an agreement with the Israeli bank Leumi in order to buy its participation in Leumi Bank Romania. Leumi Romania, which is not one of the major banks in Romania, has 15 branches, EUR 250 mil. in actives and EUR 150 mil. in deposits.

This will be the second bank to be purchased by J.C. Flowers & Co. in Romania in two years, after their inital purchase of Piraeus Bank Romania in 2018, and the Americans will strengthen their presence on a very promising market.

The purchase is yet to receive the approval of the National Bank of Romania and of the Council of Competition.

Related posts

How To Survive The Economic Crisis As An Entrepreneur

Valahia.news

Romanian Air Traffic Services Administration ROMATSA Nominates Beauty Salon Manager as Development Director

Valahia.news

Romanian Restaurant Owners Start ‘White Ribbon Protest’ Against Authorities

Valahia.news

Romanian Company Started Large Scale Testing of Global Encrypted Communication: Voice Over Blockchain Protocol

Valahia.news

Behind Romania’s Daily High Numbers of COVID-19 Infections

Valahia.news

Romanian Press Accused of Being Paid by Greece, Turkey and Bulgaria to Denigrate Romanian Seaside

Valahia.news

23% of the European Mothers Under 18 Are Romanian

Valahia.news

Bucharest in Top 25 European Cities of the Future 2020/2021

Valahia.news

Blue Air, Largest Romanian Airline, Close to Insolvency

Valahia.news

Romanian PM Urges Citizens NOT TO Respect Constitutional Court’s Decision

Valahia.news

Does Romania Prefer Germany to the US as a Strategic Partner?

Valahia.news

Leave a Comment