Libra Bank goes for 1%

Libra Bank aims to get 1% of the Romanian banking system and to open another 50 banking units in the next five years. These are the bank’s main goals, following the appointment of a new president, Oliver Whittle. Libra Bank currently controls eight subsidiaries and agencies. US investment fund Broadhurst, managed by New Century Holdings (NCH), indirectly took over Libra Bank last year, through several companies it controls. Whittle has worked for two banking companies in Kosovo in the past two years, after having run Bulgaria-based Post Bank as managing director. According to the new president, the bank accounts for 0.29% of the Romanian banking assets, up from 0,2% at the end of September 2003. ZF