Ciorcila, BT: We are not selling the bank

Horia Ciorcila, chairman of the Board of Directors of Banca Transilvania (BT), says he is not in talks with anyone to sell the bank, and rejects all the speculations circulating on the market that suggest BT will shortly be bought up by a foreign financial group. “I don’t know where these rumours came from, but I am telling you that we are not discussing the sale of the bank with anyone, nor do we intend to. We have the financial resources to develop it, and we want to carry on independently,” said Ciorcila. He is one of those who founded the bank 15 years ago, and is currently the main independent shareholder, with 5% of the capital. Banca Transilvania is the only independent bank in the Top 10, while all the other players are held by international financial groups. Ciorcila says the bank is doing well, and has no capital and financial resource-related problems. In the coming 6-8 weeks, BT will collect almost 75 million euros from the sale of its stake in insurer Asiban.