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Analiza ZF · Economic

Volksbank Group Puts Romanian Unit In “For Sale” Box

Lender Volksbank Romania will be transferred to a new division of Austrian group Volksbank, which includes non-core businesses, along with Volksbank Leasing International and Volksbank Malta.

de Andrei Cîrchelan , Translator RO-EN 16.12.2011 · 11:43 1 min de citit

“VB Romania, Volksbank Leasing International and Volksbank Malta are also assigned to the ‘Non-core Business’ division. These subsidiaries will not be a part of core business under the new strategy and are set to be sold depending on the market situation,” the group said in a news release.

Volksbank owners approved Thursday the internal reorganization of the group’s divisions, a project that will ultimately lead to a 20% reduction in staff by the end of 2013, with an impact on some 250 employees.

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