Quick restructuring for BCR

European Bank for Reconstruction and Development and International Finance Corporation have worked out an institutional building plan for Banca Comerciala Romana (Romanian Commercial Bank – BCR) that is now to be negotiated with the Privatisation Authority (APAPS). The plan will include strategy redefining, organisational and investment portfolio restructuring, risk management and retail operations improvement. The actual application of the plan will fall upon the management of the bank, but also on the shareholders. EBRD and IFC, BCR’s future shareholders, demand guarantees that the streamlining measures will be put into effect. The conditions the parties have to meet for the restructuring of BCR will therefore be included in a shareholder agreement and in the contract regarding the sale options. ZF