It looks like the banks already started acknowledging the need to move aggresively into retail, with ING Bank being in the today's press for doing it. Actually the first sign was observing the works for a small ING outlet in the corner of my street. Then this morning I got to read the whole story. Also, if you understand Romanian don't miss Baltazar's interview about the industry configuration and his prediction of max 15 banks operating in Romania by 2009 and about a "very cosmetic" number regarding the official inflation number. Also he claims that the Romanian banking sector is the closest to the EU harmonization.

UPDATE: An overview of the latest news from the banking industry from here.