MEI funds own shares worth €2 mln in BCR

MEI is one of the top five investors on the Romanian market, with investments exceeding €60 million through its MEI Roemenie en Bulgarije (RBF) fund alone.

MEI officials said they prefer BCR shares over stocks in the local lender’s owner, Austrian Erste Bank.

“We acquired [shares] from BCR employees, at a price similar to that paid by Erste. We want to buy more, but on the Bucharest Stock Exchange (BVB), if possible,” MEI’s Manager, Cristian. R. Fader, said. Erste is listed on BVB, while BCR is not.

“We are more interested in a smaller, faster car than one with greater capacity, and slower. BCR is the engine of Erste Bank’s growth and will benefit most from the market’s growth potential,” Fader added.