Banca Comercială Română [SEP] parent company
Banca Comercială Română
Banca Comercială Română (BCR) (SWIFT code: RNCBROBU), a member of Erste Group, is the most important financial group in Romania, including operations of universal bank (retail, corporate & investment banking, treasury and capital markets), as well as specialized companies on the leasing market, assets management, private pensions, housing banks and banking services through mobile phone. BCR is No. 1 bank in Romania on the assets value (over EUR 16 billion), No. 1 Bank by
as depositors lined up to get their savings out of the bank. In order to prevent further bank runs, the Romanian authorities decided upon a fast liquidation, transferring bad assets to a newly created Asset Recovery Agency, while deposits and most of the structure of Bancorex were absorbed by another state-owned bank, Banca Comercială Română. The banking license was withdrawn on July 31, 1999, effective August 2, 1999. The Romanian government compensated Banca Comercială Română for the liabilities transferred from Bancorex and it gave the right to refuse