Volksbank of Romania to open Cyprus branch

Volksbank Romania S.A. will establish a branch in Cyprus and its main business drivers will be small and medium sized enterprises, and private individuals.
Volksbank has operated in Romania since 2000 and is the fourth largest bank in terms of asset size, with total assets reported in December 2007 at EUR 3.5 bln.
The bank is part of the Volksbank AG group, one of the top five banking groups in Austria that has more than 500 branches in nine countries of central and eastern Europe.