Deutsche Bank, interested in BCR

Germany’s Deutsche Bank, one of Europe’s largest banks, has voiced interest in acquiring Banca Comerciala Romana (Romanian Commercial Bank- BCR), which accounts for a third of the Romanian market’s banking assets, according to sources close to discussions.

Several major banks have expressed interest in taking over BCR, said the Bulgarian press agency Novinite, quoting the Romanian Premier Calin Popescu-Tariceanu.

According to the above-mentioned source, Romanian authorities are considering selling the largest Romanian banking institution by the end of the first quarter of next year. Banking market sources state that the Italian Intesa bank has entered the race for BCR, with UniCredito also being interested.

An official delegation of Deustche Bank visited Romania in late January and voiced interest in BCR during a meeting with the Romanian Premier Calin Popescu-Tariceanu and with Finance Minister Ionut Popescu.

Deutsche Bank representatives could not be contacted by the time of going to press.

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) last June acquired a 25% stake in stock of BCR, paying about 222 million euros.

BCR derived gross profit worth 215 million euros in 2004, 48% higher as compared to the previous year.

The largest Romanian bank at the end of last year owned accounting assets worth 6 billion euros, up 1.6 billion euros on 2003.

Deutsche Bank has been active in Romania since the ’90s through a single office, but has been significantly involved in major financing.
adrian.mirsanu@zf.ro