“We are awaiting approval from the Romanian National Bank and the Competition Council, and aim to launch amerger process by the end of this year,” Ciobanu added.
Raiffeisen acquired HVB in July 2008.
The lender announced strategy changes amid financial market turmoil, when increasingly more banks are seeking to attract deposits. It plans to obtain more clients who are interested in saving money.
By mid-2008, RBL had some 160,000 clients and contracts worth some €600 million. Savings of RBL clients exceeded €70 million, some 20 percent higher than in December 2006.
