BRD could issue bonds up to 500m euros

BRD-Groupe Societe Generale could issue bonds worth as much as 500 million euros or the equivalent value in RON during the 2006-2007 period, if its shareholders agree with the proposal the Board of Directors has made in this regard. Shareholders have been called for September 6th to discuss on the maximum value of this year’s and next year’s bond issues. In the case of each issue, the Board of Directors will set the individual parameters. BRD is Romania’s second largest bank in terms of assets, tailing Banca Comerciala Romana (the Romanian Commercial Bank-BCR). The value of BRD-Groupe Societe Generale assets at the end of this year’s first half amounted to 6.391 billion euros, higher in euros by approximately 11.4% compared with the level reported at the end of March and 22.3% higher than at the end of 2005. Societe Generale French bank is the majority shareholder in BRD.