Categoria: Business, Romania
Bank Austria Creditanstalt released an interesting monitoring report on banking markets in South Eastern Europe, analyzing banking sectors reform and progresses in 7 countries in the region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, FYR Macedonia, Romania and Serbia Montenegro.
Here are excerpts from the Romania – Knockin’ on EU’s door, chapter:
Although Romania has made impressive progress in reforming its banking sector, the banking system’s efficiency still lags that of developed market economies, highlighting the necessity to press forward with reforms, especially in view of the country’s upcoming EU membership.
With foreign banks’ already dominant position expected to rise further and markets becoming increasingly saturated, fiercer competition among banks is expected to trigger a further wave of consolidation via mergers and acquisitions, which bodes well for further efficiency gains.