Ciorcila acquired a quarter of a million BT shares

"I looked at the evolution of the euro-dollar exchange rate, considered that we will collect money from the sale of BT Asigurari in 2007, and that BT's 2007 targets will be exceeded by far. Taking into consideration this information, I believe that the current price of BT shares is very good, so I made the decision to buy," Ciorcila told Business Standard.

Ciorcila is the bank's most important individual shareholder, with a 4.9999 percent package, according to the 2006 annual report. In 1994, Ciorcila and other shareholders founded Banca Transilvania, which is now worth over €1.71 billion on the Stock Exchange, as compared to the $4 million (some €2.71 mln) starting capital.