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16. 12. 09. - 10:00

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16. 12. 09. - 10:00

Volksbank Romania rejects changes in its business model

Romanian Times

Volksbank Romania has announced it will not change its business model and will continue to make loans.

The bank made the announcement in reaction to media reports about the problems its parent Volksbank Austria has.

Volksbank Romania will not close any branches or lay off any employees, its statement also reads, and claims relocations will take place in case lease contracts cannot be renewed.

Romanian Central Bank official Nicolae Cinteza has been quoted as saying Volksbank Romania does not have any problems.

The Austrian newspaper Die Presse reported yesterday (Tues) morning that the Austrian National Bank (OeNB) and the Financial Market Supervisory Authority (FMA) had put banking group Oesterreichische Volksbanken under observation and called for changes in its business model.

Volksbank Romania is a subsidiary of Volksbank International, the major stakeholders of which include Oesterreichische Volksbanken (Austria), DZ Bank and WGZ Bank (Germany) and Banque Populaire Caisse d'Epargne (France).

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