EBRD May Grant Romania's BCR An EUR100M Loan To Finance SMEsPublish date: 24-02-2009
The European Bank for Reconstruction and Development is considering a senior loan for up to EUR100 million to Romanian lender Banca Comerciala Romana (BCR) to be on-lent by BCR to small and medium enterprises in Romania, EBRD announced Monday.
"The proceeds of the credit line will be used by BCR to provide medium and long-term financing to private companies for production, investment, trade, services and working capital needs," EBRD said.
BCR, part of Austria's Erste Group, is Romania's largest bank by asssets.
"As of end-2008, BCR's total micro and SME portfolio amounted to more than EUR2.6 billion (unaudited). As of the same date, BCR's micro and SME market share was above 20%. Its client base was comprised of more than 4.5 million clients, both companies and individuals," according to EBRD.
The senior loan project passed concept review and is pending final review.
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