Banca Comerciala Romana


         

Capital markets

BCR LEASING IFN SA

BCR Leasing IFN SA started to operate in March 2001 dealing in the financial leasing field.

The company was established according to the bank's strategy focused on developing the financial services related to banking activity, in order to capitalize on the leasing market growth potential.

BCR Leasing IFN SA provides financial leasing services to individuals and corporate customers, including SMEs and state-owned companies, the major segments of leased assets being summarized bellow.

  • Auto, including fleet;

  • Commercial vehicles, including fleet;

  • Equipments: industrial, transport, agricultural, medical, IT;

  • Commercial or industrial buildings (clasic financial leasing or sale-and-lease-back)

Goods purchased by leasing can originate from:

- Domestic production;
- Import

BCR Leasing IFN SA is the leader of the total leasing market, with an approximately 11% market share, as at September 30, 2006.
As at November 30, 2006, the company' s total value of leasing contracts stood at EUR 337.6 million, 53% higher against the same period of 2005 (EUR 220.3 million).

BCR ASIGURARI SA

BCR Asigurari SA was incorporated in December 2001, following the authorization to operate in the non-life insurance field released by the Insurance Supervision Commission (CSA).

In terms of gross written premiums, as at September 30, 2006 BCR Asigurari SA ranked the 4-th among the Romanian insurance companies enjoying a 8.4% market share, compared to 6.45% market share as at December 31, 2005.

It is to be mentioned that as at October 31, 2006 the gross written premiums (for both life and non-life insurance) amounted to RON 339,96 million, which represents a 130% increase against the same period of the 2005.

Currently BCR Asigurari covers the following major non-life insurance classes:

  • Motor hull insurance (CASCO);

  • Compulsory motor third party liability insurance (RCA);

  • Property insurance;

  • Credit and warranties insurance;

  • Other insurances.

The fulfillment of the commitments assumed by BCR Asigurari is granted by the reinsurance treaties concluded with some of the foremost European reinsurance companies, rated “A excellent” or “superior” by the international rating agencies, among which we mention Hannover Re, Swiss Re, Mapfre Re, GE Frankona.

Goals:

  • to develop competitive products and services in order to comply with the market dynamic and customers’ expectations;
  • to develop the company’s infrastructure and to improve the quality of its services;
  • to create awareness among customers and to consolidate its market share.

BCR ASIGURARI DE VIATA SA

BCR Asigurari de Viata SA started to operate in January 2006, following the authorization released by CSA in the end of 2005.

Currently, BCR Asigurari de Viata provides the following life insurance services:

-           term death insurance;

-           life insurance for bank’s customers;

-           life insurance for the employees;

-           individual life insurance (pension plans)

In terms of gross written premiums, as at September 30, 2006 BCR Asigurari de Viata ranked the  8-th among the Romanian insurance companies, enjoying a 3,94% market share.

BCR Asigurari de Viata SA will focus on promoting a complex range of  competitive life insurance products, as well as on developing its distribution platform. 

BCR ASSET MANAGEMENT SA

BCR Asset Management S.A. is operating since June 2002, when it was authorized by the National Securities Commission (CNVM).

Core activities:

  • the management of undertakings for collective investments in transferable securities (UCITS);
  • the management of individual investment portfolios on a discretionary, client-by-client basis.

Currently, BCR Asset Management manages three open-ended funds:

  • BCR Clasic - a low-risk profile open-ended fund launched in August 2002 whose assets are invested in money market instruments mainly;
  • BCR Dinamic - a medium-risk profile open-ended fund launched in July 2003 whose assets are invested in money market instruments and shares traded on Bucharest Stock Exchange;
  • BCR Expert -  a high-risk profile open-ended fund launched in December 2005 whose assets are invested in shares traded on Bucharest Stock Exchange mainly.

The units issued by BCR Clasic, BCR Dinamic and BCR Expert are distributed mainly through BCR network, that provides national-wide coverage, and also through BCR Asset Management.

The depository services for all open-ended funds are provided by BCR SA.

With net assets under management of RON 105.32 million (EUR 30.67 million), as at November 30, 2006, BCR Asset Management held a 17.68% market share, ranking the first on the UCITS market.

BCR Asset Management also manages individual investment accounts.

BCR SECURITIES SA

BCR Securities SA was incorporated in the beginning of 2001 following the acquisition of Financiara Stock Agency (Finarex) SA - the former brokerage arm of Bancorex – by Intermob SVM SA – the former brokerage arm of BCR.

BCR Securities is authorized by CNVM to perform all range of investment services permitted by the applicable legal framework.

Core activities:

  • dealing in any of the financial instruments on behalf of investors and for its own account;
  • managing investment portfolios on a discretionary, client-by-client basis;
  • underwriting in any financial instrument and/or placing such financial instruments, as well as other services related to financial instruments’ underwriting;
  • providing advisory in connection to financial instruments, undertakings’ capital structure, industry strategy, M&As.

Throughout 2001-2006 BCR Securities ranked the first in the municipal bonds primary market, enjoying a 70.54% market share.  26 municipal bonds issues amounting to RON 140.6 million (EUR 40.94 million) were intermediated during the previously mentioned period by BCR Securities, while BCR provided through its network the distribution services.



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