Banca Romaneasca Might Take $50M Senior Loan From IFC

05.09.2011 By Andrei Circhelan

Romanian lender Banca Romaneasca seeks a $50 million senior loan from the International Finance Corporation, or IFC, to credit small- and medium-sized firms for energy efficiency and renewable energy projects.

The IFC board will discuss the proposition in June.

Banca Romaneasca is 89.1% owned by the National Bank of Greece, while the European Bank for Reconstruction and Development holds a 10.1% stake.

NBG posted a net profit of EUR12 million in Romania last year, down 37% from EUR20 million in 2009.

Banca Romaneasca has a nationwide network of 146 units and some 1,500 employees.

IFC is the investment division of the World Bank Group.