The largest bank in France and the second in the European Union, after HSBC, BNP Paribas will open a branch in Romania by the end of the first quarter next year.
The steps have already begun, according to Economica.net. The first step is the transformation of non-bank financial institutions into branches of the bank, implicitly in Romania, according to the recent model of the one in Czech Republic. Unlike the subsidiaries, branches have no legal personality.
The non-bank financial institution IFN Cetelem (currently BNP Paribas Personal Finance) will become the BNP Paribas branch in Romania, the quoted source informs.