Erste Pursues Downsizing Strategy in Romania
Last month, the Austrian Erste Group closes about 25 bank branches of BCR in Romania.
BCR (Banca Comerciala Romana SA), shut down 25 branches in May. The Romanian subsidiary of Austrian Erste Group, which is Romania´s second-largest bank, thus scaled down ist branch network to 643 units. Erste Group´s Romanian subsidiary faces a smaller business volume. As a result, the lending business has to be redimensioned.
Erste Group acquired BCR in 2006, the purchase…