Commerzbank wants to expand in Romania

Commerzbank plans to expand in Romania and Bulgaria, which are expected to join the European Union in 2007, stated Nicholas Teller, a member of the German bank’s board, quoted by Bloomberg agency. “We want to allocate more resources and capital to the region,” Teller told a press conference in Warsaw. Commerzbank was in talks to buy RoBank, but it finally failed in its bid. Teller added that the fourth largest bank in Germany, Commerzbank, was not interested in acquiring a stake in Banca Comerciala Romana (Romanian Commercial Bank – BCR), the largest player on the Romanian market in terms of asset value. Romania could sell another 25% in BCR this year, government officials specified. ZF