* Nicolae Cinteză, the head of the NBR supervision: "Marfin Bank meets the financial solidity requirements stipulated by the law"
* Officials of Marfin Bank Romania: "The decision of the Eurogroup does not affect us"
Marfin Bank România, the Romanian subsidiary of Cyprus Popular Bank, which will be closed down, is not affected by the agreement between Cyprus and the international financial institutions, officials of the Romanian bank and Nicolae Cinteză, the head of the Banking Supervision Department of the National Bank of Romania are saying.
Nicolae Cinteză said that Marfin Bank meets the financial solidity requirements stipulated in the law: "If the local subsidiary of Cyprus Popular Bank will be included among the < bad > assets of the lender, which is possible, when one thinks that its sale is desired, the Central Bank would suspend the voting rights of the majority shareholder".
In the event of such a hypothesis, the capital will remain in Romania, and control will be exercised by the minority shareholders, according to the official of the NBR. If the situation of the bank were to deteriorate, control would be taken over by the Fund for the Guarantee of Bank Deposits, Nicolae Cinteză says.
If Marfin Romania were included among the "good" assets, Bank of Cyprus would become its new majority shareholder. The Cypriot bank would own a branch as well as a subsidiary in Romania, from a legal point of view, but in order to increase the efficiency of the activity, a likely scenario would involve the transformation of the Romanian branch of Bank of Cyprus into an entity subordinated to Marfin Bank România, because the latter has a Romanian legal personality, Nicolae Cinteză went on to say.
Cornel Stănescu, the deputy managing director of the lender says that the bank is not affected by the decisions made by the Eurogroup.
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