Best Bank:
Romanian Bank for Development
Best debt house:
ING
Best Equity house:
ING
Best M&A house:
ING Barings
The takeover of the Romanian Bank for Development (BRD) by Société Générale in March 1999 has been described as the best thing that could have happened to the Romanian banking system.
Although BRD cannot be put on an equal footing with the other best banks of the region, it has gone further down the path of transition than any other Romanian bank.
BRD is the second-largest bank in Romania after the state-owned Romanian Commercial Bank (BCR). BRD comes second in its share both of retail deposits (20%) as well as corporate deposits (16%).
It was able to expand its retail accounts by 55% in 2000, which is noteworthy considering that only about 2 million out of a population of 22 million have a banking relationship at all. BRD has offered a range of personal loans and developed banking card services. In July 2000 it also introduced a service to transfer funds internationally through the Western Union system.
BRD is also active in corporate finance, and since December 2000 has offered a new cash management product, MultiX, to corporate clients.