Friday, June 1, 2012

Erste’s BCR Closed 25 Retail Units In Romania In May, ZF Reports

Banca Comerciala Romana SA, Romania’s largest bank by assets, closed 25 retail units in May in the eastern European country and downsized its network to 643 units, Ziarul Financiarreported today, citing bank data.

The lenders are considering several options to restructure and adapt their networks to lower business volumes, the Bucharest-based newspaper said today, citing unidentified people in the banking industry. The bank known as BCR, majority-owned by Austria’s Erste Bank Group AG and BRD-Groupe Societe Generale (BRD) SA, is Romania’s second-biggest bank.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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