Banca Comerciala Romana (BCR), the country’s largest state-owned bank and leader in the Romanian factoring market, recorded in the first six months of 2003 a stunning success in factoring business.
The European Bank for Reconstruction and Development (EBRD) has launched a private equity growth fund for small- and medium-sized companies (SMEs) in Bulgaria and Romania.
Two Romanian businessmen with considerable factoring experience are looking for an investor to help launch a new factoring business in Romania.
It was announced earlier in the month that Romanian authorities had approved the privatisation strategy of Romania’s largest bank, Banca Comerciala Romana, after a year of deferments.
It has been reported that the Romanian government plans to sell a 51% stake in Banca Comerciala Romana in 2002.
A 62.5% stake in Demirbank Romania, the company which, according to figures submitted to Factors Chain International for the year 2000, accounts for 25% of Romania’s total factored volume, has been purchased by Unicredito Italiano.
Two new players have recently joined the Romanian market, The Romanian Commercial Bank and Demir Bank of Romania in offering factoring services within the banking sector.
