Banca Românească
Short Description
Banca Romaneasca was established in 1993 as a private commercial bank. In December 1998, Romanian American Enterprise Fund became the controlling shareholder. RAEF exited Banca Romaneasca in 2003 by selling its stake to National Bank of Greece.
Facts
Fund | Romanian American Enterprise Fund |
Sector | Financial Services |
Country | Romania |
Entry | December 1998 |
Exit | October 2003 |
Fund’s Return | 3x cash on cash |
Fund’s Contribution | The Fund chose the most appropriate development strategy by focusing mainly on financing SMEs and assured financing from reputed financial institutions like: EBRD, KfW, IFC, FMO, WB, PHARE, BIRD. RAEF has reinforced the management team and, through active leadership, succeeded to increase the total assets of the Bank by more than 3 times and the equity by more than 2 times between 1998 and 2002. |