Talks for BNP-Dresdner progress

Negotiations for the sale of BNP-Dresdner Bank Romania are making headway, and the bank’s management estimates that by the end of this month there are chances that an accord should be concluded in this sense.

“We are optimistic because we are getting close to an agreement which could be concluded before the end of this month,” Philippe Kirchner, chairman of BNP-Dresdner Bank Romania, told Ziarul Financiar.

He declined referring to the bank’s potential buyers. “As for the issue of current speculation on candidate names, you will understand that we cannot disclose anything, as we are naturally bound by confidentiality,” said Philippe Kirchner.

Banking sources mentioned that Greek bank Egnatia Bank tops the buyers’ list. Still, surprises are not ruled out.

Kirchner specified that he has never received a notice for a certain deadline as to the completion of the sale operation and that the bank is currently fulfilling its obligations toward the National Bank of Romania.

“The bank is fully functioning and the income generated by the flow of business has continued to increase after the announcement of the present shareholders’ decision to withdraw,” Kirchner stated.

The bank’s shareholders, French group Banque Nationale de Paris and German group Dresdner, have decided in April to sell the business based in Romania, since the country’s business environment did not allow the bank to derive certain profitability rates.

BNP-Dresdner Romania has a share capital worth 10 million dollars and entered the Romanian market in 1998.