The purpose of this paper is to assess the financial performance of Romanian banks involved in\r\nM&A activities, as target banks, over a period of 10 years (1998-2008). Performance is analyzed in\r\nterms of profitability by using traditional accounting measures: ROE, ROA and NIM. Post-M&A\r\nperformance for a 3-year period is compared with the aggregate ratios from all Romanian banks.\r\nThe findings are mixed. On one hand, bank M&A in Romania does not result in improved ROE or\r\nROA in the post M&A 3-year period under review. On the other hand, merged banks report media\r\nNIM above industry.
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