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Economic

Bruynseels: BCR Could Distance Itself Further From Rivals

Romania’s largest lender Banca Comerciala Romana (BCR) has a big opportunity in terms of repricing and competitiveness, as its main rivals are undergoing a series of management or structural changes, according to chief executive Dominic Bruynseels.

Florentina Dragu · 12 decembrie 2011 · 1 min de citit

Speaking at an investor conference organized by Austrian Erste Bank (EBS.RO), Bruynseels said the country’s second biggest bank, BRD Societe Generale has recently announced they will have a new CEO as of 2012.

Additionally, the merger between Greece’s banks Alpha and EFG is bound to take “quite some time”, while the next rival in line, Italy’s UniCredit, announced Romania was not a priority market, Bruynseels said.

“And then we have Raiffeisen and Transilvania, smaller but highly competitive,” he told investors.

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