Romania’s major lender BCR issues seven-year bonds with 7.77% coupon

Banca Comercială Română (BCR), part of Austria's Erste Group, has completed a RON 1 billion (EUR 200 million) bond issue with a seven-year maturity and a fixed annual coupon of 7.77%.

The bonds were priced at 100% of nominal value, with the transaction concluded at a margin of 95 basis points above the Romanian government bond curve (ROMGB).

The issue added to a series of bond placements through which BCR has raised more than RON 12 billion on the Bucharest Stock Exchange in recent years. In December 2025, the bank listed a EUR 500 million Eurobond with a six-year maturity and a fixed annual coupon of 4% for the first five years, Ziarul Financiar reported. Earlier in 2025, BCR also issued RON 1.12 billion in local currency bonds.

BCR reported its net profit contracted by 19% y/y to RON 602 million in the first quarter of 2026. Net interest income declined by 1.4% y/y, reflecting pressure on margins in a competitive market, while net fee and commission income increased by 6.8%.

As of March 31, loans and advances to customers stood at RON 71.27 billion, down 2.3% from the end of 2025, while customer deposits rose by 1.8% to RON 94.8 billion.

The bank's Tier 1 capital ratio reached 24.9%, well above the regulatory requirements imposed by the National Bank of Romania.

(Photo source: BCR)