Bancherul - BANCI / ENGLISH / Erste says largest Romanian lender BCR is not in need of financing from the state

Austria's Erste Bank, the majority owner of Romania's largest lender by assets BCR, does not require or solicit any financing from the Romanian state for BCR and will support its cash-strapped customers, according to Erste executive president, Andreas Treichl.

BCR is a solid and well capitalized bank and Erste will continue to supply it with capital and financing, said Treichl in a release sent to NewsIn, adding that both BCR and Erste will stand by their obligations and responsibility to finance the Romanian economy.

The executive president of the Austrian group explained the bank is ready to help its clients who might be facing difficulties in the current economic background.

Mass-media in Austria commented upon a tour of Finance Minister Josef Proell in the region, saying states like Romania are too proud of their economic performances and too confident the financial turmoil will by-pass them, which is why they were reluctant and uninterested by Vienna's plan to protect Austrian lenders.

Moody's rating agency warned that Austrian and Swedish banks with subsidiaries in Eastern Europe could see their ratings down as economies in the area deteriorate.

The BCR group posted a net consolidated profit after taxes and minority interests of 1.25 billion lei (341.5 million euros) for the third quarter of 2008, a 71.8 percent boost on the similar period of 2007.