The European Bank for Reconstruction and Development (EBRD) board has approved the memorandum of understanding (MOU) on the joint takeover with the International Finance Corporation (IFC) of a 25% stake in Romania’s largest state-run commercial bank Banca Comerciala Romana. (See 30 September 2003: Banca Comerciala Romana privatisation to be completed in 2006)
The sell-off strategy was the subject of discussion with the IMF and World Bank representatives.
EBRD and the IFC have prepared a restructuring plan for the state-run commercial bank Banca Comerciala Romana.
The restructuring plan envisages the bank’s strategy revision, organisational reshaping and improved risk management and retail operations.
