BCR eyed by ING and HVB again?

The Romanian market, even though no longer offering the yields of the previous years, is still looking good to international banking groups. Especially where retail is concerned. A proof to verify this is that two major European financial groups, ING Bank and HVB Bank through its Bank Austria Creditanstalt, have not dropped plans to increase exposure to the Romanian banking system. They would not do it just anyway, though, but by acquiring a stake in the largest Romanian bank, Banca Comerciala Romana (Romanian Commercial Bank – BCR). “A few weeks ago rumour spread on the Bucharest banking market that several international groups, such as ING and HVB, have started to look into ways to become BCR shareholders. Now that the direct negotiation partners are EBRD and IFC, and not the Romanian State, they feel they stand more chances,” authorised banking sources said. After several attempts at privatising BCR, to ING and HVB included, the Romanian State in the first half of this year decided for a change of strategy and sold 25% to EBRD and IFC. ZF