Earlier this year, Romania’s largest bank, Banca Comerciala Romana (BCR), suffered a humiliating two-day run at the hands of its depositors following the collapse of the country’s largest investment fund, the Fondul National de Investitii (FNI).
| Candido: woes contained if not exactly cured | ||||||
Many executives and officials blamed the stampede on the irrational fear of retail depositors that BCR was liable for losses at the fund or that the bank was otherwise in trouble. But one seasoned local banker believes the panics were the result of disinformation.
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