Erste Group: BCR Needs Capital Boost

Professional ServicesBanks ♦ Published: September 16, 2011; 15:40 ♦ (Vindobona)

The Austrian bank’s Romanian subsidiary may need additional capital due to high risk costs and the overall economic situation.

Erste Group: BCR Needs Capital Boost / Picture: © Erste Group / Helmut Lackner

Erste Group may soon have to increase the capital of its Romanian subsidiary Banca Comerciala Romana (BCR). This was announced by Erste CFO Manfred Wimmer on Friday in Bucharest. He explained that this step might become necessary as a result of the severe economic situation in the country and the high risk costs of BCR and other banks that would remain elevated for quite some time.…