Carabulea takes over Carpatica reins

Ilie Carabulea, the biggest shareholder in Banca Comerciala Carpatica (BCC), with a 36.45% stake, was appointed as president of the bank, replacing Viorel Grigore, who did not get the NBR’s approval. Analysts believe the management change will not modify the strategy of the lending institution that is pending the highest capital increase in its history. Nicolae Surdu was reconfirmed as president of the board of directors by supervisory board members. The appointment of the two comes after, in late February, the National Bank of Romania approved only three of the five members that shareholders had proposed for the supervisory board. “Ilie Carabulea’s appointment will boost the bank’s image. When the president is also the most important stakeholder, his involvement in the bank’s management will of course rise. On the other hand, the bank’s strategy will not change because Ilie Carabulea could already influence the management from his position as the biggest shareholder,” said Mihai Chisu, a broker with IFB Finwest brokerage.