With a view to supporting export-oriented companies in their Romania-related business activities in the future, Bank Austria Creditanstalt has signed a €20mn multisourcing framework agreement with Banca Comerciala Romana (BCR), the largest Romanian bank. The agreement covers financing lines for exports primarily from Austria and Germany to Romania.
Romania’s imports have risen substantially over the past few years. In the last 10 months of 2002, Austrian exports to Romania increased by over 20%.
Since 1997, Bank Austria Creditanstalt has been represented in Romania through its banking subsidiary HVB Bank Romania. Many export-oriented and multinational companies are among the bank’s main customers. HVB Bank Romania’s network comprises five branches and there are plans to expand this branch network. The bank has about 180 employees and serves more than 10,000 customers.
Bank Austria Creditanstalt is responsible within the HVB Group for markets in Central and Eastern Europe. The group’s network in the CEE region comprises some 900 offices in 15 countries, making it the largest network bank in the region.