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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

BRD and Raiffeisen Bank buy stakes in BCR’s cash transport company

BRD Groupe Societe Generale and Raiffeisen Bank bought stakes in CIT One, a cash transport and management company founded by BCR Group.

The three banks, which are among the biggest on the local market, now own a third of CIT One’s shares each.

They announced the completion of this transaction on October 1, after the Competition Council greenlighted the deal.

“Through this transaction, the three banks aim to optimize, develop and streamline cash transport and processing, consolidating the dedicated market segment and, at the same time, following the international trend of collaboration between banking market players in this field. In the short and medium-term, the three partners envisage the accelerated development of CIT One’s activity,” reads a statement issued by the three banks.

CIT One was founded in 2009 by BCR Group and recorded accelerated growth in recent years, reaching a turnover of RON 130 mln (EUR 26.7 mln) and a net profit of RON 10.4 mln (EUR 2.14 mln) in 2019.

(Photo: Pixabay)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

BRD and Raiffeisen Bank buy stakes in BCR’s cash transport company

BRD Groupe Societe Generale and Raiffeisen Bank bought stakes in CIT One, a cash transport and management company founded by BCR Group.

The three banks, which are among the biggest on the local market, now own a third of CIT One’s shares each.

They announced the completion of this transaction on October 1, after the Competition Council greenlighted the deal.

“Through this transaction, the three banks aim to optimize, develop and streamline cash transport and processing, consolidating the dedicated market segment and, at the same time, following the international trend of collaboration between banking market players in this field. In the short and medium-term, the three partners envisage the accelerated development of CIT One’s activity,” reads a statement issued by the three banks.

CIT One was founded in 2009 by BCR Group and recorded accelerated growth in recent years, reaching a turnover of RON 130 mln (EUR 26.7 mln) and a net profit of RON 10.4 mln (EUR 2.14 mln) in 2019.

(Photo: Pixabay)

andrei@romania-insider.com

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