According to the local media, citing people with knowledge of the matter, Banca Transilvania is interested in taking over the whole loan portfolio of Bank of Cyprus in Romania while Raiffeisen Bank is interested only in several assets.According to the same sources, Bank of Cyprus is not content with the offers received, considering that it could get more by selling its portfolio piece by piece. Banca Transilvanias representatives will go to Cyprus for further negotiations. As Banca Transilvania appears to be the main contender, it seems to be in a good negotiating position. We still rate the news as neutral as the portfolio to be acquired is relatively small compared to TLV’s balance sheet.
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