BCR: Treichl Expects Soon Recovery

People ♦ Published: May 19, 2012; 13:49 ♦ (Vindobona)

Andreas Treichl, CEO of Erste Group, anticipates a soon recovery of the Romanian subsidiary Banka Comerciala Romana.

BCR: Treichl Expects Soon Recovery / Picture: © BCR Banca Comercială Română

At the annual general meeting of Erste Group, Treichl told shareholders that the business segment in Romania will be “a cause of joy in the future”. BCR is expected to recover very soon.

Erste Group acquired BCR in 2006, the purchase price was six times book value. Market observers perceived the acquisition as highly expensive. The write-downs last year were one of the…