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Over a quarter of public debt is owed to 22 banks

29.07.2010, 23:07 8

The Romanian state had an 11.5 billion-euro debt to 22 Europeanbanks at the end of March, most of which from Austria, France,Greece, and Italy, accounting for 28.5% of the public debtregistered in the statistics of the Finance Ministry at the samedate.
French group Société Générale - majority shareholder of BRD, thesecond-largest bank on the Romanian market in terms of assets - hadthe biggest exposure to Romanian T-bills, of over 3 billion euros.The loans granted by the French bank to the state accounted for7.5% of the overall 40.3 billion-euro public debt.
Austrian-held Erste Group, which controls the biggest bank on theRomanian market - BCR, ranks second among banks that financedRomania, with an almost 2.49 billion-euro exposure to RomanianT-bills, i.e. 6.2% of the overall public debt.
Austrian banks are in fact the biggest lenders to the Romanianstate, with exposures to Romanian T-bills of Erste and RaiffeisenInternational accounting for almost one tenth of the overall publicdebt.

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