Portuguese Millenium Bank to open branch in Romania

Portuguese bank Millenium BCP has submitted a notification at the Romanian National Bank expressing interest in opening a branch in Romania. The move comes despite Millenium, which has lost to Erste Bank in its effort to make a big entrance on the Romanian market by acquiring Romania’s largest bank BCR, had said it would not use other forms to expand its operations in the country.

As Romania has just joined the European Union, Millenium will be able to start its operations here without following a complicated process to receive authorization from the National Bank. Still, it would have to comply with all of the central bank’s norms and regulations.

Millenium BCP is the largest private bank in Portugal and operates under different brands in other countries in Europe, Asia, Africa, America and the US.