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BANKS EEA

Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • ROMANIA

    Inhabitants - 21,904,551 (July 2011)

    Language - Romanian (official) 91%, Hungarian 6.7%, Romany (Gypsy) 1.1%, other 1.2%

    Currency - Romanian leu (RON), floating, exchange rate ~ 0.217 EUR

    Religion - Eastern Orthodox (including all sub-denominations) 86.8%, Protestant (various denominations including Reformate and Pentecostal) 7.5%, Roman Catholic 4.7%, other (mostly Muslim) and unspecified 0.9%, none 0.1%

    Politics - Politics in Romania take place under the framework of a semi-presidential parliamentary, representative and democratic republic, wherein the Prime Minister of Romania is the head of government and the President of Romania exercises the functions of head of state. Romania has a multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and the two chambers of parliament, the Chamber of Deputies and the Senate. The judiciary is independent of the executive and the legislature.

  • Major industries - electric machinery and equipment, textiles and footwear, light machinery and auto assembly, mining, timber, construction materials, metallurgy, chemicals, food processing, petroleum refining

    Banks (2010) - 42 banks; 6,170 branches; 66,753 employees; assets – EUR 79.77 billion; loans – EUR 49.21 billion; deposits – EUR 41.41 billion

    Banking regulations – Financial supervision in Romania is carried on the basis of a sectoral model. The National Bank of Romania (the NBR) is the banking supervisor, vested with licensing, regulation and prudential supervision authority for banking activities. The National Securities Commission (the NSC) is responsible for regulating, licensing and supervising the capital market sector. This split authority structure is transposed in practice as follows: the provision of banking services by a bank is regulated and supervised by the NBR, while the regulation and supervision of the carrying out of financial investment services on a regulated market by that bank is entrusted to the NSC. Romanian banks are organised as joint stock companies and must have a banking license issued by the NBR.

  • Banks incorporated in Romania are required to have initial capital in excess of 37 million Lei (~ EUR 8 million) in order for the NBR to approve the starting up of their operations. The initial capital is made up of share capital and reserves; thus upon incorporation of a new bank (other than by way of a merger or acquisition) it is equal to the share capital.