RBS Bank Romania, the local subsidiary of the British group thatput it on the sale list at the beginning of the year, but could notfind a buyer, posted 22.6 million euros in net profit in the firsthalf, according to Romanian accounting standards (RAS),significantly more than the profits recorded by players in the top10 ranking in terms of assets.
On June 30th, the bank recorded 1.97 billion euros in assets,which means an around 2.5% market share, around half a percentagepoint behind the bank on the no. 10 spot - ING Bank.
These are the results that Dutch-born Peter Weiss, 50, who hasbeen running the credit institution for four years, since it waspart of the ABN Amro group, leaves behind. When he came to Romania,in the summer of 2005, the bank had a 4.9% market share and rankedamong the top 10 banks in terms of assets. The bank's position inthe asset ranking weakened amid a booming retail market, but ABNAmro continued to focus on the corporate segment, with the volumeof business on the consumer market remaining limited, without anysignificant investments made in its territorial network. Weiss isto take over as general manager of RBS Greece, where he used towork before coming to Bucharest. Johan Gabriels has been appointedas his replacement, and will take over the position in October,after he is authorised by the NBR (National Bank of Romania). Thenew designated head of the bank comes from the RBS Belgiansubsidiary.
He has previously worked with companies such as former ArthurAndersen, Mars (the Netherlands, Russia, France), PepsiCo (France,Italy, Spain), CapitalOne (the US, the UK) and RBS, being mainlyexperienced in financial management.
The profit recorded by RBS Bank Romania in the first half of theyear is 35% higher than that reported according to RAS to thefiscal authorities for the full 2008.
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