CEC BANK CASE. PROPOSALS AND POSSIBLE SOLUTIONS FROM THE EXPERIENCE OF ITALIAN FOUNDATIONS OF BANKING ORIGIN

Abstract

Privatization processes have been carried out all over the world in many different ways.However, sometimes due to particular features Countries involved can try inspiration and advantage from the experience of other Countries in which privatization has been already completed. In our opinion, that’s the case of Romanian CEC (Casa de Economii si Consemnatiuni) Bank that during 2005 has gone through a hard privatization process without obtaining a positive result. Because of interesting similarities with Italian Savings Banks, there is a great chance that CEC Bank takes possible and innovative solutions to conclude the privatization process. For this reason, in this paper, we present some proposals for a possible implementation of the Foundations of banking origin’s experience. In order to carry out this analysis, the paper is structured as follows. In the first chapter, we have retraced the most important steps of the privatization process made in Romania in order to understand the particular evolutionary path and features. In the second chapter, we focused on the similarities between CEC Bank and Italian Savings Banks (Casse di Risparmio) in order to clarify the chance to implement the Italian experience in Romania.The third chapter is completely devoted to Italian experience through the analysis of the privatization process featuring the Casse di Risparmio and at the same time the birth of the Foundations of banking origin. The last and more important chapter describe the possible steps the CEC Bank could make in order to accomplish its privatization process. Some conclusions end the paper.

Keywords

• Privatization
• SavingsBanks
• FoundationsofBankingOrigin
• Welfare