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BCR to run Proprietatea Fund financial operations

Marţi, 11 aprilie 2006, 0:00

The Romanian Commercial Bank-BCR will run the financial operations of the Proprietatea Fund, established last year to compensate through shares in various companies the Romanians who could not obtain their properties confiscated by the Communist regime in the post-1989 retrocession process, it was announced on Tuesday.

The National Equities Commission opted for BCR despite the Romanian Savings House-CEC was initially selected to run the operations after the Proprietatea Fund dropped its contract with the House.

BCR was selected from a series of banks interested in the job, including HVB Bank Romania, Bancpost, BRD Groupe Societe Generale and the Romanian Bank.

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