La Caixa expands on Romanian market through Libra Bank

La Caixa, the largest savings bank in Spain, could take over the Romanian Libra Bank from the Broadhurst investment fund, which indirectly owns through companies in its portfolio 100 percent of the lender’s capital, according to market sources that did not reveal the value of the transaction, reads Business Standard daily on April 14.
The sale of one of three commercial banks with Romanian majority shareholders, whose assets were worth some 200 million euros at the end of 2007 was not confirmed by Siminel Andrei, president of NCH Advisors, the company administering the local activities of the American Broadhurst company.

“We want to establish a partnership with a much larger bank, to support the bank’s development with know-how and technology. At present we are carrying out discussions with several potential partners,” Andrei told daily Business Standard.
The Spaniards of La Caixa announced as far back as October 2007, when they came onto the Romanian banking market, that they intended to acquire a specialized retail player with a 3-4 percent market share in this area.
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