Romania’s Banca Comerciala Feroviara Gets Green Light To Operate

The bank said in a statement it has a share capital of 45 million lei ($15 million/11 million euro), totally domestically owned. Businessman Valer Bildar owns 90.5% of the new bank, including 39.5% directly and 51% through the companies Astra Vagoane Calatori and Tristar. The remaining stake of 9.5% is held by the company Atelierele CFR Grivita.

The bank will start operations this year and plans to open at least five subsidiaries.

The total assets of the other 42 banks operating in Romania rose to 313.7 billion lei at the end of 2008 from 250.8 billion lei a year earlier, data of Romania’s central bank showed.

(1 euro = 4.2194 Romanian lei)