A second round of consolidation and privatisation has begun in Romania’s banking sector, offering attractive propositions for growth. Matei Paun reports.
Central & eastern Europe
Latest articles from Romania
Banks take part in catch up story
April 4, 2005Romania is catching up with its neighbours as it prepares for EU membership. Politicians are keen to repeat 2004’s growth and investment levels – which means a busy time for banks.
Romania maintains momentum
April 4, 2005Romania is celebrating a successful 2004 in which taxes were cut and GDP grew. Now its sights are set on EU accession and newly elected President Basescu faces some tough decisions in the longer term.
No longer the laggard
April 4, 2005Romania is catching up with its eastern European neighbours in the attraction of foreign direct investment. Matei Paun reports on last year’s record performance and conditions that bode well for the future.
New government makes ambitious reform plan
February 2, 2005Bank privatisations and stock market listings are on the new government’s financial reform programme as it strengthens its bid for EU accession. Matei Paun reports from Bucharest.
New entrants in profits drive
June 2, 2004Matei Paun reports on the host of foreign banks hoping to cash in on Romania’s burgeoning finance sector.
Eyes on the prize
April 5, 2004As Romania does all it can to create a smooth path towards EU membership, investors are discovering that the countries holds great promise. Matei Paun reports from Bucharest.
BCR: Romania’s banking giant
April 5, 2004
Banca Comerciala Romana is awakening to a world of opportunities and challenges With its know-how and a 300-strong branch and agency network, it is well-placed to distribute its products and services and make headway in the retail market.
Banca Comerciala Romana (BCR) is the Romanian banking sector’s sleeping giant. Not only is it the largest bank, with roughly a 30% market share and nearly four million customers (doubled from two million in early 2000), but in the period 2000-2003 it generated total profits of almost $750m. In 2003 it delivered a strong performance with net profits of over $160m, in line with 2002’s performance.
Foreign banks’ invasion pays
April 5, 2004
Privatisation in the Romanian banking sector has sent foreign assets soaring in the last six years. And the flurry of activity shows no signs of dissipating.
Since privatisation began with the 1998 sale of the Romanian Development Bank (BRD) to France’s Société Générale Groupe, the percentage of banking assets represented by foreign banks in Romania has skyrocketed to more than 50%. Besides the French, the Austrians are traditional players in the central and eastern Europe (CEE) banking sector, as are the Greeks, playing on their regional familiarity. The Dutch, Italians and even the Americans, through Citibank, also have considerable presence.