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The mother – banks committed not to withdraw capital from Romania

The International Monetary Fund (IMF) received written agreements from all nine mother-banks of the main lending institutions active in Romania, attending the talks in Vienna, which committed not to withdraw capital and they guarantee the participation with additional capital in supporting the local subsidiaries.

The officials of the mother-banks from the four countries of origin (Austria, Italy, France and Greece) committed to participate in the economic recovery program of Romania, in keeping with the agreement for multi-lateral external aid announced last week, and to supply capital to the local subsidiaries, where this is needed.

The meeting in Vienna was attended, besides from the officials of IMF, EC, WB, EBRD and EBI, the CEOs of Erste Group, Volksbank, Raiffeisen International, Societe Generale, UniCredit, EFG Eurobank, National Bank of Greece, Alpha Bank, Piraeus and BNR prime vice governor, Florin Georgescu. The intention letter of the Government for IMF addressing the financing agreement reached the institution venue in Washington, and the Fund shall convey and answer to the Romanian authorities early April, as governmental sources declared for Mediafax.

Aspects addressing the implementation of the financial arrangement with the EU, IMF, WB and EBRD, as well as the outcomes of the meeting from Vienna, were debated during the meeting that took place on Friday with BNR Governor, Mugur Isarescu, and the representatives of the Association of Banking Financial Analysts in Romania (AAFBR). On this occasion, nine commercial banks which have subsidiaries in Romania signed an agreement to act together towards finding appropriate solutions in the international current context and in relation to securing the normal operation of the banking financial sector, Agerpres reports.

 

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Tags: romania capital committed mother banks bnr

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