Bancpost valued at 365m euros

Greeks at EFG Eurobank now control 95.2% in Bancpost, after buying 7% from SIF Banat-Crisana and SIF Transilvania for 25.5 million euros in overall sum. The transaction puts Bancpost at around 365 million euros, a level close to that of its equity capital (the share capital Bancpost currently has underway is also considered). These two transactions and the one sealed a week ago, when SIF Oltenia also sold its stake in Bancpost for 12.15 million euros, are the first rather significant deals in the Romanian banking sector since the start of the financial crisis, in July 2007. Over the last two years, valuations of Romanian banks have fallen dramatically, from six times their equity capital, to below their equity capitals at the beginning of the year..