BCR decision expected this month

Romanian authorities are set to decide on the privatisation of Banca Comerciala RomA„sna (Romanian Commercial Bank – BCR) this month. Privatisation minister Ovidiu Musetescu has said that a decision will most likely be made after January 20, when consultations with the international financial institutions are to end. “We will make a decision only after we talk to the World Bank and the International Monetary Fund. We shall adjust the bank’s privatisation strategy, in order to resume the sale proceedings. There’s one thing certain: BCR earned 160 million dollars in net profit this year, equaling the joint profits of all the other banks in the system,” Musetescu explained. ZF