BCR LEASING IFN SA
Leasing IFN SA started to operate in March 2001 dealing in the financial leasing field.
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.
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
Auto, including fleet;
Commercial vehicles, including
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;
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
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.
Asigurari covers the following major non-life insurance classes:
motor third party liability insurance (RCA);
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.
- to develop
competitive products and services in order to comply with the market dynamic and
- to develop the
companys 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:
for banks customers;
for the employees;
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
- 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
- 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 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
- 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
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.