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.