BCR co-financed over 33 million Lei worth projects within the National Multiannual Program for SMEs

Banca Comerciala Romana (BCR) has provided loans for small and medium-sized enterprises (SME) within the “2002 - 2009 National Multiannual Program (2007's budget)', having co-financed over 33 million Lei worth investment programs.

On December 31, 2009, BCR completed the provision of investment loans and NFA (Non-reimbursable Financial Allowance) for co-financing SMEs’ investment projects within this program, to have been developed based on the Collaboration Convention concluded with the former Ministry for Small and Medium-Sized Enterprises, Commerce, Tourism and Liberal Professions (MIMMCTPL). “BCR has successfully completed this program, having benefited from the experience accumulated upon having performed the same program in 2003 and 2004. One of the major advantages for the program’s beneficiaries consisted in the financing scheme to have included a non-reimbursable component and a bank loan, the investments financed within the projects being aimed at supporting the Romanian companies’ activity. We actively participate in most SMEs financing programs, in order to provide our clients with adequate solutions. BCR is a leader on this market segment as well, over 40% of the SMEs in Romania being BCR’s clients”, stated Ramona Ivan, Executive Director of BCR’s Financial Institutions Division. The program was performed between 2007 and 2009, when BCR co-financed a number of 132 projects, 33.2 million Lei worth altogether. 8.4 million Lei represented loans granted by the bank, 13.8 million Lei were the non-reimbursable allowances cashed in by clients, and 11.0 million Lei represented private sources used by the beneficiaries. According to the company's requisites, the financing structure of a project consisted in: maximum 60% of the project's value - NFA granted by BCR from the funds received from MIMMCTPL, minimum 25% investments loan granted by BCR and minimum 15% of the investment project's value, the client's own contribution, performed in cash exclusively. BCR clients have benefited from non-reimbursable financial allowances representing over one third (35%) of the Program’s total 39.95 million Lei budget. The latter was managed by the 9 commercial banks to have entered collaboration conventions. SMEs activating in areas such as the textile industry, wood, plastic and rubber processing, paper and concrete construction elements production, chemical industry, metallurgic industry, machines and equipments industry, leather goods and construction industries, as well as wastes recycling, have mainly benefitted from financing. *** BCR, a member of the Erste Group, is a universal bank dedicated to both retail and corporate customers. BCR is the leading banking organization in Romania, managing assets worth of more than EUR 17.2 billion. BCR is the most valuable Romanian financial services brand. The bank is offering a full range of banking services having 663 retail branches and agencies (for individuals and micro corporations) located in most of the Romanian cities with a population of more than 10,000 inhabitants. The corporate customers are serviced in 48 corporate commercial centres dedicated exclusively to SMEs and big companies. The bank provides to both retail and corporate customers a complex offer of banking products and services, including Internet banking, phone banking and e-commerce services. BCR issues 25 types of debit and credit card, and is the owner of the largest national ATM and POS network – over 2,000 machines and over 17.000 electronic terminals operational at the merchants, for card payments. BCR is currently the most important financial Group in Romania, with operations both in Romania and abroad developed by its local branches, foreign banking subsidiaries and representative offices. BCR is also holding top positions on the financial market segments for leasing, asset management, housing bank, equity and pension funds supported by its domestic subsidiaries.
Tags: bcr program financial financing banking national financed within million worth projects pos atm

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