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What the British at RBS Bank have for sale in Romania

22.04.2009, 22:20 14

A corporate funding package worth around one billion euros, plus credits for individuals worth around 663 million euros are the main assets that British group RBS holds in Romania, and is to sell when it finds a buyer. It also has financing to banks and other financial institutions worth around 182 million euros in its portfolio, plus exposure to government securities worth 165 million euros, according to data published by the parent bank. In all, credit risk assets are worth over 2 billion euros, with the Romanian business being one of the smallest taken over by RBS from ABN Amro, therefore being put on the list of planned sales earlier this year. The interest of the British for the Romanian market raised question marks ever since its takeover of the Dutch group's local branch. Initially, RBS invested in a major rebranding campaign and continued to support the launch of products, but at the end of February, it announced it was selling the Romanian bank, as well as another 13 banks. The move is part of RBS efforts to find its way out of the crisis it got mired in last year, which turned it into a quasi state-nationalised bank.

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