Romania’s privatization starts to pay off
The privatisation of Romania’s only remaining state-owned bank, savings bank Casa de Economii si Consemnatiuni (CEC) is drawing near. The bidding process has advanced so far that only Hungarian bank OTP and the National Bank of Greece remain in contention. Their offers were expected at the end of August. And while Romanian banks are looking to expand their franchise, CEC poses a different dilemma to its future owner – a possible need to downsize.
The new owner will have to decide what to do with a network of about 1,400 branches, by far Romania’s most extensive.
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