From the number of foreign banks opening branches in Bucharest one could be forgiven for thinking that the Romanian market must finally be about to take-off. Don’t be fooled. The banks may be there, but as yet the business isn’t.
The attitude of bankers involved in Romania ranges from philosophical to lugubrious. “There is a sense of disappointment,” says one foreign banker. “Romania was expected to be the next Poland.” Mimicking Poland’s 6% GDP growth remains a pipe dream for Romania.
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