Volksbank must sell its Romanian subsidiary by the end of 2017. The Austrian bank is restructuring itself and must give up some of its assets under rules set by the European Commission. In addition to its Romanian subsidiary, Volksbank must also sell off its stake at VB Leasing International Division, which controls VB Leasing Romania.
Volksbank Group and VR Leasing Germany have a 50-percent holding at VB Leasing International. VB Leasing International owns 80 percent of VB Leasing Romania IFN, while the remaining 20 percent is owned by Volksbank Romania.
The group announced late last year that Volksbank Romania will be repositioned in two to three years, after which it will be sold.
