The EBRD has sold 5% stake in the Romanian bank BRD-Societe Generale for 107.5 million euros

The European Bank for Reconstruction and Development (EBRD) has sold his 5% stake in the Romanian bank BRD-Societe Generale on the Stock Exchange of Romania for the Romanian 454,700,000 lei (107.5 million euros). According to the Romanian Stock Exchange, more than 34 thousand 845 shares in BRD Societe Generale, belonging to the Bank, were sold at a price of 13.05 RON (3.1 Euro) per share. The total transaction value amounted to 454.7 million RON, or 107.5 million euro, transmits RBC. Bank owned 5% stake in BRD-Societe Generale since 1999. BRD-Societe Generale is the second largest bank in Romania on bank assets and the second largest by market capitalization on the Stock Exchange Romania. Net income BRD-Societe Generale in 2010 was 501 million lei (118.5 million euros), down 36% compared with 2009, but it was the biggest gain among the Romanian banks in 2010 The number of clients BRD-Societe Generale has reached 2.5 million people. Network Bank in 2010 increased by 7% - up to 937 units. The main shareholder of BRD-Societe Generale is the French group Societe Generale - one of the largest banking groups in the euro zone, whose services are used more than 27 million customers. Source: RBC-Ukraine