Romania’s Banca Transilvania is holding negotiations to buy Austrian group Volksbanken’s Romanian subsidiary.
Banca Transilvania in an announcement on the Bucharest Stock Exchange (BVB) said, “A possible decision regarding the successful completion of the Volksbank talks will be announced after all legal steps have been done and all approvals obtained.
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“Bank officials are confident about formalizing a future acquisition of a bank or loan portfolios that will add value to the bank.”
Volksbank, which has nearly EUR2.9bn in assets, is 51% owned by Volksbanken, which is currently grappling with problems after it failed recent stress test conducted by the European Central Bank.
While, French group BPCE and German groups DZ Bank and WGZ Bank hold remaining 49% stake.
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