RBS Romania's Sale Not Because Of Poor Results - Ctrl Bk Gov

RBS Romania was put for sale not because it would be a "bad bank," but the decision is a commercial one about which Romanian central bank had some knowledge, the central bank governor Mugur Isarescu said Thursday.

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Isarescu reiterated the fact that RBS is one of the most solid banks in Romania, extremely efficient, with a high level of profitability and solvability.

UK group RBS put Romania’s operations on the list of assets it would sell, after it announced a restructuring program that would put under the administration of a special unit the assets that are not part of the ground operations.

RBS announced that the special unit will include about 20% of RBS’ total assets with a total value of GBP240 billion (EUR269.87 billion).

British newspaper “The Times” said Sunday the group will unroll a restructuring program and transfer banking retail divisions in Central and Eastern Europe into a bank of unperforming assets, followed by their sale.

RBS Group entered the Romanian market in 2007 by overtaking the local operations of Dutch Group ABN Amro.

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