BEM has sufficient liquidity to recover place in banking system, minister

Banca de Economii (Savings Bank) has sufficient liquidity to satisfy all the needs. It is an institution that will recover the place it deserves in the banking system, Minister of Finance Veaceslav Negruta said in a news conference, quoted by Info-Prim Neo. “As regards the solution for overcoming the crisis situation created artificially, the solutions are surely identified at technical level. The decision concerning the capitalization of the bank in which the state has a 56% holding is taken by the legislative body because the legislation must be modified, especially the State Budget Law,” said the minister. Veaceslav Negruta also said that the privatization is an ultimate method that can be applied at a business owned by the government. In 2007, such a procedure was launched by the former government, which even contracted a company to prepare Banca de Economii for privatization. “It is important that the bank work, while the authorities should take care that it brings benefits to people,” he stated. According to reports, in 2012 the bank sustained losses of 313 million lei.