Financiarul

As well, Fitch confirmed “BBB” rating for long-term credits in foreign currency and national currency, with a negative outlook. The agency confirmed “F2″ rating for short-term foreign currency loans and the sustaining rate “2″ for BCR.
The agency stressed that “BBB” rating for long-term loans and the sustaining rate reflects the big backing potential of the majority shareholder Erste Bank BCR enjoys. Erste rating is “A” with a stable outlook.

The long-term rating is constrained by the country ceiling “BBB” for Romania and the negative outlook of BCR rating reflects the one of the country ceiling.
The same as its rivals in Romania, BCR was also affected by the significant impact of provisions increase upon profitability and capitalization, which generated a downwards revision of BCR individual rating.

The bank’s capitalization was strengthened following a subordinated loan obtained from Erste Bank. Yet Fitch appreciates that BCR capitalization is not adequate and new capital injections might be needed to maintain the solvability rate of over ten percent and for the amortization of potential risks and pressures upon profitability in a deteriorating operational environment.

These factors are compensated by BCR strong position in Romania, the raised efficiency and the comfortable level of liquidities. BCR is the largest bank in Romania according to the total bank assets, with a market share of 20.5 percent and having the third largest branch chain in Romania – 652 – at the end of the first half of 2009.

BCR is focused on retail activities and of lending small and medium-sized enterprises, since Erste Bank took over a major participation in BCR, in October 2006.
BCR, member of Erste Group, is an universal bank that addresses both to retail and corporate clients. BCR manages assets of over 17.2 billion euros.

The bank offers the entire range of products and services to population having, at present, according to BCR data, 659 retail units (for population and micro-enterprises) opened all over the country, in the majority of towns with more than 10.000 inhabitants. BCR issues 25 credit and debit card types and has installed the largest national chain of ATM and POS – more than 2,000 ATMs and some 17,000 operational electronic terminals at retailers, for the payment by card.