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February 3, 2023

FinMin Caciu: State becomes direct contributor to increase in banking intermediation, after EximBank – Banca Romaneasca merger

The state becomes a direct contributor to the increase in the degree of banking intermediation after the merger of EximBank with Banca Romaneasca, argues the minister of finance, Adrian Caciu.

Caciu announces that, after “an ambitious process, unique on the Romanian financial-banking market”, the merger between EximBank, as the absorbing company, and Banca Romaneasca, as the absorbed company, was officially registered at the Trade Registry, so that the beginning of 2023 brings a new player to the banking retail market, strong and ready to contribute to the diversification of banking offers on the Romanian market.

EximBank, whose majority shareholder is the Romanian state, through the Ministry of Finance, thus became a leading Romanian universal bank, addressing both companies and individuals.

Independent of the specific components of a universal bank, EximBank will continue to act in the segment of state guarantees and insurance, in accordance with the mandate received from the Romanian state, thus supporting exports, international transactions and other projects in priority areas of the economy or the absorption of European funds.

“By mobilizing funds in these directions converging with those of the Romanian Government’s policy in relation to the European Union and the Organization for Economic Cooperation and Development, the sustainable economic development of the country is pursued by increasing the competitiveness of Romanian companies. Supporting existing economic projects or new ones also means training the Romanian workforce, maintaining or creating new jobs, implicitly leading to an increase in the population’s standard of living,” the release added.

EximBank has developed rapidly in the last 10 years so that, in addition to entering the Top 10 largest banks by assets in Romania, it is today one of the most valuable Romanian companies and an institution of systemic importance.

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