Kevin MacQuarrie, Senior Customer Service Representative of British-based Citadel Commerce, an important player on the credit card market, said he is not able to provide a date for the start of the lender’s operations in Romania. Citadel Commerce notified BNR of its intentions in March 2007. “I know that you are interested to know when we are coming to your country, but we first want to see the expectations of the Romanian market, both in terms of clients and dealers,” he told Business Standard.
Lombard Odier Darier Hentsch & Cie, one of the largest Swiss private bankers, has not included Romania in its short or medium-term plans. The lender has notified BNR “because these are European protocols and Odier aims to comply with them,” according to the bank’s PR representative, Marionna Wegenstein.
Islamic banks, known for their no-interest loans, have the same policy. Officials at the Bank of London and The Middle East declined to say to what extent they are interested in the Romanian market. Currently, the only European country in which the lender is operating is Britain. “One of our principles is the respecting of Sharia, the fundamental Islamic law. We are never going to finance operations involving drugs, alcohol and cigarettes or business unjustly profiting lendees,” bank officials responded to Business Standard questions.
Representatives of Royal Bank of Scotland (RBS), one of the largest European banks, have denied possible business in Romania. “Our only operations connected to Romania are those of our clients doing business with partners in your country. We are definitely not planning to enter the Romanian retail banking market,” Carolyn McAdam, RBS Head of Group Communications, told Business Standard.
