The Romanian privatization agency AVAS accepted the bid of EUR 3,75 billion from Erste Bank der oesterreichischen Sparkassen AG for 62% of the shares of Banca Comerciala Romana S.A. (BCR), Romania’s largest bank.
“BCR is the undisputed market leader in Romania and perfectly complements our existing network in Central and Eastern Europe. We are proud to be the winner of this very well conducted tender process. It is a recognition of the value of our strategy and track record in Central and Eastern Europe”, said Andreas Treichl, chief executive officer of Erste Bank, in an initial statement.
“We are also keenly aware of the responsibility we have assumed for almost 2.8 million clients, more than 12,000 employees and this important component of the overall Romanian economy,” added Treichl.