Fierce battle at the top of Romanian banking system between Banca Transilvania and BCR

By mid-2018, a historical move happened in the Romanian banking system. Banca Comerciala Romana (BCR) was dethroned from the top of the banks by Banca Transilvania after almost two decades of reign. Banca Transilvania has reached RON 75.3 billion in assets, while BCR stayed at RON 70.2 billion.

The first two major banks in Romania are posting similar profits and assets this year and the current figures suggest the battle for the first place is far from being settled, according to Business-Review.eu.  

The difference has maintained by end-September, when Banca Transilvania posted assets of RON 76.5 billion while BCR kept its second position with assets of RON 72.2 billion.

BCR was the leader of Romanian banking system since the end of the 1990s. Over the years, the main competitor was BRD – Groupe Societe Generale.

But it was not BRD that had overtaken BCR as the leader of the local banks but Banca Transilvania. Back in 2006, BT was just a small bank with headquarters in Cluj, trying to make its way in the system.

The bank grew organically over the years, but changed the strategy after it grew big enough and started to buy small competitors.

Read more HERE

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