Bank of Georgia plans to enter the Romanian brokerage market

"We plan to become members of the Bucharest Stock Exchange (BVB) and enter the brokerage market, as we believe the Romanian market has growth potential. We are discussing with local brokers and are not ruling out acquiring a brokerage company," Romriell told Business Standard.

He added that the Romanian stock exchange needs as many listings as possible to survive the stock market globalization. "Following our entry into Romania, we plan to attract Romanian companies and bring in foreign companies" to BVB, Romriell said,

To date some 200 international brokerage companies have shown interest in the Romanian capital market. This summer, Wood&Co's brokerage division started trading on the local market.

Bank of Georgia is the second largest Georgian bank, with a 35 percent market share. It is listed on the London Stock Exchange (LSE) and has a market capitalization of €25.3 million.