It has been reported that the Romanian government plans to sell a 51% stake in Banca Comerciala Romana in 2002. Banca Comerciala Romana is Romania’s largest bank and runs a factoring operation which, according to figures submitted to Factors’ Chain International, accounted for 10% of the total factored volume in Romania in 2000.
The stake is thought likely to be sold to a major foreign bank or to a consortium of banks. The minimum price for the stake has been set at US$800m.
Source: Zephus
BCR Comment
It is not known at present what impact this will have on Banca Comerciala Romana’s factoring operation, if any, although if the stake were bought by a major international bank with a factoring network it could present the bank’s factoring division with a springboard for international expansion.
