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Romania's lender Banca Transilvania does not need recapitalizations, GM says

Stress tests effected on the lender Banca Transilvania showed that the bank does not need recapitalizations, as the capital adequacy ratio (CAR) stood at 14 percent at the end of April, declared the general manager Robert Rekkers.

The 14 percent rate is calculated by Romanian Accounting Standards.

"We do not need additional capital. The current situation is similar to that of 1998-1999. I expect a boom after 2010," he said.

The central lender BNR asked for capital hikes in the case of 12 lenders for a total value of around 4.15 billion lei after the stress tests applied at the request of the International Monetary Fund, people from the market told NewsIn.

Lenders need to bring additional capital in two installments, one until September 30 2009 and the second until March 31 2010.

The largest bank by assets in Romania, Banca Comerciala Romana (BCR), needs a 460 million lei recapitalization this year and in the next one, considering the past year financial results, the stress tests applied by BNR show, people from the banking market told NewsIn.

The stress tests are carried in 2009 and 2010 with the purpose to assess the need of extra capital reported to the financial indicators on the past year. Since the beginning of the year, several banks hiked capitals by incorporating the past year profit.

Nine large foreign lenders doing business in Romania pledged at the end of March in Vienna to keep their exposure on Romania. In a second meeting last week in Brussels, the foreign banks reaffirmed their promises and established March 31 as a landmark for the exposure.

Banca Transilvania reported a gross profit of only 1.02 billion lei for the first quarter, 98 percent down versus the similar period last year, when it stood at 60.26 million lei.

Bonds issues could relieve the internal market

Rekkers added that the Finance Ministry could issue foreign currency state securities, which banks would use as collateral to BNR repo operations. He pinpointed that Banca Transilvania invested more than 3 billion lei in state securities.

Steven van Griningen, the Raiffeisen Bank Romania president, declared on May 20 that banks discussed at Brussels about the possibility of issuing euro investments instruments on the Romanian market, like eurobonds and foreign exchange swap.

Discussions took the form of a gentlemen's agreement and there was no mention of conditions, as no Finance Ministry official was present.

The nine banks represented at the talks were Erste Bank, Raiffeisen International, Eurobank EFG, National Bank of Greece, Unicredit, Societe Generale, Alpha Bank, Volksbank and Piraeus Bank.

Foreign banks promissed to keep their exposure on the Romanian market, with the level in March as a benchmark.

 

Sursa: http://www.newsin.ro

Tags: market foreign lender capital banca transilvania banks euro bnr car bcr

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