NBR: The 9 banks will not request for a reduction of exposure to Romania

The nine largest banks in Romania will not request any waiver from their commitments to IMF, European Commission and the National Bank of Romania made on July 22 in Brussels to keep exposure in Romania, a central bank official said.
“I am aware of their position, the participants haven’t officially expressed their intentions to reduce exposure to Romania”, NBR official added.

The Vienna agreement, signed in 2009 by the nine largest banks with exposure in Romania (Erste Bank, Raiffeisen International, Eurobank EFG, National Bank of Greece, UniCredit, Societe Generale, Alpha Bank, Volksbank and Piraeus Bank), is based on the commitments of the banks to keep their overall exposure in Romania, and even increase capital flows to their subsidiaries if needed.

“So far, there is no information suggesting their intention to lower exposures. And banks have never requested approval to lower exposures to Romania anyway. The Vienna agreement is more than a gentleman’s agreement, and what happened so far, highlighted a clear plan to keep their exposures, given their role as long-term strategic investors”, NBR official added.

“Banks haven’t expressed any intention to lower exposures so far”, a Raiffeisen Bank official confirmed.

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