BCR's strategy: Specialised companies take over operations from bank

Six new companies have been created in the past year in the BCR group, which has at its centre the biggest bank in terms of assets, with the highest investments being directed to a debt collection company, a cash processing company, and a real estate assets management company.

Suport Colect, set up in June 2009, took over BCR balance sheet liabilities both from the portfolio of retail loans, and from corporate loans, with the bank providing the company with an over 2 million-euro share capital to help sustain its development.

BCR Procesare, a company mainly dedicated to processing the bank network’s cash (transportation and storage), was scheduled to start operations in the first quarter of this year.

Another new firm in the group is BCR Real Estate Management, specialising in managing the bank’s real estate contracts.

In order to better cater to demand for leasing services, BCR set up an operational leasing company (for cars and light vehicles) – BCR Fleet Management – held by BCR Leasing, the group’s financial leasing company.

In the autumn of 2008, BCR had also registered a company specialising in consumer loans, BCR Partener, but the onset of the crisis postponed the start of operations, with the company yet to become operational.

The bank set up BCR Finance in the Netherlands to conduct its external and internal financing programme. The vehicle is dedicated to raising cash, mainly from the Luxembourg stock exchange, with a 2 million-euro share capital.