BRD – Groupe Société Générale is a Romanian bank which is based in Bucharest, Romania. It was founded in 1923 and is currently the third largest bank by assets (about 10.9 bn €) in Romania.
The majority of shares are owned by French Société Générale financial group who holds a stake of 60.17%. It was rebranded after the Société Générale acquired Banca Română pentru Dezvoltare (English: Romanian Development Bank) from the Romanian Government in 1999.
In 1923, Societatea Națională de Credit Industrial was founded as a public institution. The National Bank of Romania held the majority with 30% of the share capital.[2]
After World War II and the Nationalization Law of June 1948, Societatea Națională de Credit Industrial was nationalized and became Banca de Credit pentru Investiții.[2]
BRD was founded in 1990 as a commercial bank by taking over assets of the former Investment Bank of Romania.
Since 31 October 2012, the general manager of the BRD is Philippe Charles Lhotte. He replaced Alexandre Paul Maymat who stepped down due to family reasons.[3]
In July 2013, Moody's downgraded the BRD's ratings to Ba2/Not-Prime from Baa3/Prime-3, following the lowering of the bank's baseline credit assessment (BCA) to b2 from ba3.[4]
Controversies and legal issuesedit
In December 2012, the Romanian authorities opened an investigation on a $111 million fraud at BRD.[5]
In May 2015, the Romanian authorities opened an investigation on a €43 million fraud involving Remus Truică.[6]
Activityedit
It has over 2.2 million clients, more than 900 branches and recently moved its headquarters into a new building on Victoriei Square in the north side of Bucharest, into one of the tallest towers in the country as of 2005[update].
^"BRD Societe Generale to nominate new head for Romania after Alexandre Maymat withdraws for personal reasons". Romania-insider.com. 23 July 2012. Retrieved 2016-05-12.
^"Moody's downgrades BRD -- Groupe Société Générale to Ba2/NP from Baa3/P-3; outlook negative". Moodys.com. 17 July 2013. Retrieved 2016-05-12.
^"Romania investigates 85 mln euro bank fraud". Reuters.com. 14 December 2012. Retrieved 2016-05-12.
^"Romanian businessmen and bank executives, involved in one of the biggest bank fraud cases in the last 15 years". Romania-insider.com. 19 May 2015. Retrieved 2016-05-12.
groupe, société, générale, romanian, bank, which, based, bucharest, romania, founded, 1923, currently, third, largest, bank, assets, about, romania, banca, română, pentru, dezvoltarecompany, typesocietate, acțiunitraded, asbvb, brdindustryfinance, insurancefou. BRD Groupe Societe Generale is a Romanian bank which is based in Bucharest Romania It was founded in 1923 and is currently the third largest bank by assets about 10 9 bn in Romania Banca Romană pentru DezvoltareCompany typeSocietate pe AcțiuniTraded asBVB BRDIndustryFinance and InsuranceFounded19 June 1923 100 years ago 1923 06 19 HeadquartersBucharest RomaniaProductsCommercial banking Investment banking Private banking Asset managementOperating income 506 million 2019 1 Total assets 11 6 billion 2019 1 Total equity 1 7 billion 2019 1 OwnerSociete Generale 60 17 Number of employees7 000 2020 Websitewww brd roThe majority of shares are owned by French Societe Generale financial group who holds a stake of 60 17 It was rebranded after the Societe Generale acquired Banca Romană pentru Dezvoltare English Romanian Development Bank from the Romanian Government in 1999 Contents 1 History 1 1 Foundation 2 Controversies and legal issues 3 Activity 4 References 5 External linksHistory editFoundation edit In 1923 Societatea Națională de Credit Industrial was founded as a public institution The National Bank of Romania held the majority with 30 of the share capital 2 After World War II and the Nationalization Law of June 1948 Societatea Națională de Credit Industrial was nationalized and became Banca de Credit pentru Investiții 2 BRD was founded in 1990 as a commercial bank by taking over assets of the former Investment Bank of Romania Since 31 October 2012 the general manager of the BRD is Philippe Charles Lhotte He replaced Alexandre Paul Maymat who stepped down due to family reasons 3 In July 2013 Moody s downgraded the BRD s ratings to Ba2 Not Prime from Baa3 Prime 3 following the lowering of the bank s baseline credit assessment BCA to b2 from ba3 4 Controversies and legal issues editIn December 2012 the Romanian authorities opened an investigation on a 111 million fraud at BRD 5 In May 2015 the Romanian authorities opened an investigation on a 43 million fraud involving Remus Truică 6 Activity editIt has over 2 2 million clients more than 900 branches and recently moved its headquarters into a new building on Victoriei Square in the north side of Bucharest into one of the tallest towers in the country as of 2005 update nbsp Piaţa Unirii branch in Bucharest nbsp Stăpungerii Silvestru branch in IasiReferences edit a b c Interim Financial Report PDF Retrieved 2020 05 19 a b BRD www deltastock com Retrieved 2020 05 19 BRD Societe Generale to nominate new head for Romania after Alexandre Maymat withdraws for personal reasons Romania insider com 23 July 2012 Retrieved 2016 05 12 Moody s downgrades BRD Groupe Societe Generale to Ba2 NP from Baa3 P 3 outlook negative Moodys com 17 July 2013 Retrieved 2016 05 12 Romania investigates 85 mln euro bank fraud Reuters com 14 December 2012 Retrieved 2016 05 12 Romanian businessmen and bank executives involved in one of the biggest bank fraud cases in the last 15 years Romania insider com 19 May 2015 Retrieved 2016 05 12 External links edit nbsp Banks portalOfficial website Retrieved from https en wikipedia org w index php title BRD Groupe Societe Generale amp oldid 1210582498, wikipedia, wiki, book, books, library,
