BCR exceeded the half billion euros mark for factoring transactions in 2012

Publish date: 27-02-2013
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Banca Comerciala Romana (BCR) registered in 2012, factoring transactions totaling almost 530 million EUR, representing an increase of 45% in respect to 2011.

"2012 was a year in which we registered significant developments both in terms of new business volumes and in the number of clients who use the factoring services. The main driver of the increase was represented by without recourse factoring. The number of clients increased by more than 100% compared to 2011 and this was due both to the increase in volumes financed through factoring and to substantial improvement of products and services offered by BCR. Given the present economic situation, we consider that most clients will continue to use without recourse factoring, this product offering, besides financing, also the comfort of payment risk coverage. Factoring has a great potential for future growth and BCR will continue to focus on developing new factoring products and services", stated Valentin Galatanu, Deputy Executive Director, Transaction Banking, BCR.

BCR offers its clients a short-term financing solution having as collateral only receivables,, for companies supplying goods / providing services based on contracts or firm orders and with a fixed payment term. By using factoring, clients can benefit from a complete set of services including immediate financing for delivered goods / provided services, collection and invoices administration, and most important, payment risk coverage.

BCR carries out domestic and foreign factoring transactions, with and without recourse, including the entire range of factoring services: financing (up to 100% of the invoices value, within the approved factoring limit), invoices administration (by managing the receivables transferred to specialized information system, with client access to information and reports), collection of invoices from debtors as well as payment risk coverage.

Banca Comerciala Romana (BCR) provides factoring services since 1999 presently being a member of the international factoring organization Factors Chain International.

Banca Comerciala Romana (BCR), a member of the Erste Group, is the most important financial group in Romania, covering universal bank operations (retail, corporate & investment banking, treasury and capital markets) and specialised companies' activities in sectors such as leasing, asset management, private pensions, housing banks and mobile banking services. BCR is the leading bank in Romania in terms of assets value (over EUR 16 billion), the leading bank in terms of the number of clients, as well as the leading bank in the savings and lending sectors. BCR is the most valuable financial brand in Romania considering the clients' trust and the number of persons that carry out their banking activities mainly with BCR.

BCR offers a full range of financial products and services through a network comprising 41 business centres dedicated to corporate clients and 622 retail units located across the country, in most towns with more than 10,000 inhabitants. BCR is the leader of the Romanian cards and banking market, operating for its clients the largest national ATM and POS network - over 2,400 machines and over 15,000 terminals operational at merchants for card payments, and providing complete Internet banking, phone-banking and e-commerce services.

Erste Group is one of the main providers of financial services in Central and Eastern Europe. Approximately 50,000 employees serve 17 million clients in 3,100 subsidiaries located in 8 countries (Austria, the Czech Republic, Slovakia, Romania, Hungary, Croatia, Serbia and Ukraine). On September 30th 2012, Erste Group's total assets were worth EUR 217.0 billion and the Group recorded an operational profit of EUR 2,618.5 million and a cost/income ratio of 51.9%.

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