Banca Comercială Română (Romanian Commercial Bank) is the largest bank in Romania. The bank has 473 branches and agencies throughout the country, with outlets in most towns and cities, and owns the largest domestic ATM network with over 1,300 ATMs and 9,800 points-of-sale terminals. BCR also owns banking subsidiaries in Moldova and London, which also has branches in Paris and Frankfurt, and representative offices in Moscow and New York.

As of end of 2005, BCR has assets in worth of €10 billion (of which more than €2 billion capital) and it is estimated that in 2005 it would have a profit of €250 million.

Erste Bank is the new majority shareholder of Romanian Commercial Bank following the acquisition of a 61.88% stake at a price of €7.65 per share, resulting in a total price for the 490.399.321 shares sold of €3.751.554.805 (€3.75 billion). This is considered the biggest Austrian foreign investment abroad. This is also considered the biggest FDI in Romania.

Rating

• BBB plus (by Standard & Poor's) (as of Dec. 2005)

Shareholders

• 62% Erste Bank A.G.
• 8% BCR employees
• 6% each - five investment companies:SIF1- Banat-Crisana;SIF2- Moldova; SIF3- Transilvania; SIF4- Muntenia; SIF5- Oltenia
• others

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.

External links

• Banca Comercială Română
• BCR Chişinău