Thursday, March 26, 2009

Foreign banks pledge to shore up Romanian units

WASHINGTON, March 26 (Reuters) - Nine foreign-owned banks operating in Romania on Thursday pledged their commitment to doing business in the country and promised to provide additional capital to their subsidiaries if needed.

'We also acknowledge that our subsidiaries in Romania will have to adjust to the current challenging economic environment,' the banks said in a joint statement issued by the International Monetary Fund. 'A need for additional capital cannot be excluded, and will be provided as necessary.'

The banks include Erste Bank, Raiffeisen International, Eurobank, National Bank of Greece NBG - news - people ), Unicredit, Societe Generale, Alpha Bank, Volksbank and Piraeus Bank. (nyse:

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