European Investment Bank grants Romania's BCR EUR 75 mln for SME financing

Romanian lender Banca Comerciala Romana (BCR) has signed a new loan agreement worth EUR 75 million with the European Investment Bank (EIB) to finance projects developed by Romanian SMEs, mid-cap companies and the public sector. This is the second part of the EUR 150 million loan completed in 2009. So far, BCR funded more than 10,000 such projects with a total co-financing exceeding EUR 1 billion. Financing through the EIB funds can be accessed by beneficiaries which intend to develop projects in sectors such as industry, tourism, services and agriculture. BCR, member of Erste Group, is the largest financial group in Romania, and includes the bank BCR, specialized companies on the leasing market, asset management, private pension and housing banks. Last year the bank earned a net profit after tax and minority interests of EUR 110.2 million, 46.7 percent lower than in 2009. At the same time, the group's total assets went up last year by 6 percent, to EUR 18 billion. Irina Popescu, irina.popescu@romania-insider.com