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April 19, 2024
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Business Finance Romanian News

Credit Agricole to Sell Romanian Branch to Vista Bank Romania

Credit Agricole and Vista Bank Romania announced the agreement today: Credit Agricole unit in Romania is to be sold to Vista Bank Romania in a transaction which first has to get the approval of the National Bank of Romania and the approval of the Competition Council.

Vista Bank, former Marfin Bank, belongs to a Greek group, Vardinogiannis, founded by Vardinogiannis family. Among others, one of the Vardinogiannis family members is the owner of Panathinaikos Athena, the famous football club, but the family also has businesses in the oil industry, shipping and banking.

Once the transaction is finalized, Vista Bank will have total financial assets of EUR 1.2 B, loans of EUR 750 M and deposits summing EUR 1.1 B.

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