Banca Comercialǎ Românǎ

Type	Private
Founded	1993
Headquarters	Bucharest, Romania
Key people	Andreas TREICHL, President of the Supervisory Board Dominic BRUYNSEELS, Chief Executive Officer
Products	Commercial banking, Investment banking, Private banking, Asset management
Revenue	▲ € 1.140,6 million EUR (2008) [1]
Net income	▲ € 541.0 million EUR (2008) [1]
Total assets	€ 17.56 billion EUR (2007)
Website	www.bcr.ro

The original BCR logo used from 1992 to 2007

The BCR - Erste Bank Group logo used from 2007 onward

The BCR-headquarter in Bucharest

Banca Comercială Română (Romanian Commercial Bank) is the largest bank in Romania. The bank has over 650 branches and agencies throughout the country, with outlets in most towns and cities, and owns the largest domestic ATM network with over 1,500 ATMs and 16,000 points-of-sale terminals. BCR also owns banking subsidiaries in Moldova and London, branches in Paris and Frankfurt, and representative offices in Moscow and New York. Since 2006, Erste Bank has been the majority shareholder of Romanian Commercial Bank.

As of end of 2007, BCR has assets of over €17 billion (of which more than €2 billion capital) and it is estimated that in 2008 it would have a profit of over €500 million.

[edit] Rating

• BB+ (by Standard & Poor's) (November 2008)
• BBB (by Fitch Ratings) (November 2008)

[edit] Shareholders

• 69.2% Erste Bank der oesterreichischen Sparkassen AG
• 6% each - five investment companies: SIF1- Banat-Crisana;SIF2- Moldova; SIF3- Transilvania; SIF4- Muntenia; SIF5- Oltenia
• others

[edit] History

• 1990 The government establishes Banca Comerciala Romana (BCR) to take over the commercial business of the National Bank of Romania.
• 1998 BCR commences operations in the Republic of Moldova.
• 2000 BRC opens a branch in Cyprus.
• 2001 BCR wholly acquires Anglo-Romanian Bank in London.
• 2002 BCR opens a representative office in New York.
• 2004 Anglo-Romanian acquires Banque Franco Roumaine in Paris and Frankfurt Bucharest Bank, and converts them into branches of Anglo-Romanian.
• 2006 Erste Bank acquires 62% of the shares of BCR. in a privatization. Erste acquired the Romanian government's 37% stake, and the IFC's and the EBRD's stakes of 12.5% each. Erste paid a total price of €3.75 billion for the 490 million shares. This made the acquisition the biggest foreign investment in Romania.

[edit] References

[edit] External links

• Banca Comercială Română
• BCR Chişinău

This European bank & insurance-related article is a stub. You can help Wikipedia by expanding it. v • d • e

This Romania-related article is a stub. You can help Wikipedia by expanding it. v • d • e