The Competition Council authorized the transaction through which Vista Bank Romania, an institution controlled by the Greek group Vardinogiannis, took over the local branch of the French from Crédit Agricole at the beginning of this year.
“The takeover operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and there are no serious doubts about its compatibility with a normal competitive environment,” said representatives of the competition authority.
Vista Bank’s market share would rise to 1 percent after the transaction, with the bank being able to reach the top 15 largest banks in the local market, according to Stavros Lekkakos, chairman of the board of Vista Bank.
