BCR Leasing (IFC-39108)

Countries
  • Romania
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Hold
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 6, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
SC BCR Leasing IFN S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Small & Medium Enterprises
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 51.65 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 51.65 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 3, 2018

Disclosed by Bank May 10, 2017


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC website, the project consists of a RON 200 million (approximately USD 50 million) loan package to BCR Leasing. The package is to support provision by BCR Leasing (BCRL) of finance leasing to its core Small and Medium Enterprise (SMEs) clientele, primarily of vehicles and moveable equipment.

The main objectives of the project are to:
1. Help utilize a proven financial product that would respond to the critical term funding gap for SMEs in Romania
2. Alleviate the difficulty of SMEs in accessing bank financing by using asset-secured lease finance
3. Introduce competition in the financial sector and promote growth and generate employment.

Specifically, the facility is aimed to (i) Address the critical shortage of term funding for SMEs in Romania; (ii) Help deepen financial markets, boosting RON-denominated leasing and mitigating foreign exchange risks; and, (iii) Generate employment through resultant growth of SMEs and investment in productive assets.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

BCR, a member of Erste Group, provides universal banking operations (retail, corporate & investment banking, treasury and capital markets), and covers specialty companies working on the leasing market, private pensions and housing finance. BCR is Romania's largest bank in terms of assets (over EUR 15 billion), client base and lending.

Erste Group Bank AG ("Erste") was founded in 1819 as the first Austrian savings bank. Around 46,700 employees are serving 15.9 million clients in almost 2,700 branches in-7 countries. Erste Group is one of the largest financial services providers in Central and Eastern Europe.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

BCR Leasing ("BCR Leasing" or "The Company") is a wholly-owned subsidiary of Banca Comerciala Romana ("BCR", part of Erste Group) established in 2001. The Company provides domestic financial leasing services for the purchase of capital goods, such as: leasing for the purchase of vehicles, fleets, equipment and industrial machinery, agricultural machinery or medical equipment. Through its specialized subsidiary, BCR Fleet Management, the Company also offers customized operational leasing and fleet management services for cars and light commercial vehicles.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Akira Holding Foundation Parent Company Agriculture and Forestry owns Louis Dreyfus Co Brasil SA Client Agriculture and Forestry
Bunge Ltd Parent Company Agriculture and Forestry owns Bunge Finance Europe Client Agriculture and Forestry
DCH International A/S Parent Company Agriculture and Forestry owns Premium Porc SRL Client Agriculture and Forestry
Energeticky a Prumyslovy Holding Parent Company Energy owns EPH Refinancing 2020 Client Energy
Energiepark Bruck/Leitha GmbH Parent Company Energy owns Bruckneudorf and Hoflein W Client Energy
EP Investment SARL Parent Company Energy owns EP Infrastructure as Client Energy
Erste Group Investor Finance invests in Acek Desarrollo y Gestion Parent Company Construction
Erste Group Investor Finance invests in Acek Desarrollo y Gestion Client Construction
Erste Group Investor Finance invests in ACS Parent Company Construction
Erste Group Investor Finance invests in ACS Client Construction
Erste Group Investor Finance invests in Akbank TAS Parent Company Finance
Erste Group Investor Finance invests in Akbank TAS Client Finance
Erste Group Investor Finance invests in Akira Holding Foundation Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Alvean Sugar SL Client Agriculture and Forestry
Erste Group Investor Finance invests in Alvean Sugar SL Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Ameropa AG Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Ameropa AG Client Agriculture and Forestry
Erste Group Investor Finance invests in ams AG Client Communications
Erste Group Investor Finance invests in ams AG Parent Company Communications
Erste Group Investor Finance invests in Bajgora Wind Farm Acquisition Client Energy
Erste Group Investor Finance invests in Best in Parking Konzernfinanzierungs GmbH Parent Company Construction
Erste Group Investor Finance invests in Best in Parking Konzernfinanzierungs GmbH Client Construction
Erste Group Investor Finance invests in Bombardier Transp Finl Parent Company Construction
Erste Group Investor Finance invests in Bombardier Transp Finl Client Construction
Erste Group Investor Finance invests in Borealis AG Parent Company Industry and Trade
Erste Group Investor Finance invests in Bruckneudorf and Hoflein W Client Energy
Erste Group Investor Finance invests in Bunge Finance Europe Client Agriculture and Forestry
Erste Group Investor Finance invests in Bunge Ltd Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Caroli Foods Group Client Agriculture and Forestry
Erste Group Investor Finance invests in CTP Invest spol sro Parent Company Industry and Trade
Erste Group Investor Finance invests in DCH International A/S Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Doughty Hanson & Co Managers Parent Company Industry and Trade
Erste Group Investor Finance invests in Duratex SA Parent Company Industry and Trade
Erste Group Investor Finance invests in Energeticky a Prumyslovy Holding Parent Company Energy
Erste Group Investor Finance invests in Energiepark Bruck/Leitha GmbH Parent Company Energy
Erste Group Investor Finance invests in Enlight Energy Pv Acq Client Energy
Erste Group Investor Finance invests in EP Infrastructure as Parent Company Energy
Erste Group Investor Finance invests in EP Infrastructure as Client Energy
Erste Group Investor Finance invests in EP Investment SARL Parent Company Energy
Erste Group Investor Finance invests in EPH Refinancing 2020 Client Energy
Erste Group Investor Finance invests in Eurocom Holdings (1979) Ltd Parent Company Energy
Erste Group Investor Finance invests in Felix Distn Hldg Srl Parent Company Energy
Erste Group Investor Finance invests in Felix Distn Hldg Srl Client Energy
Erste Group Investor Finance invests in Finansbank AS Client Finance
Erste Group Investor Finance invests in Fortum Oyj Parent Company Industry and Trade
Erste Group Investor Finance invests in Global Pay Solutions Inc Parent Company Communications
Erste Group Investor Finance invests in Global Pay Solutions Inc Client Communications
Erste Group Investor Finance invests in Kenes International Ltd Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Koc Holding AS Parent Company Finance
Erste Group Investor Finance invests in Kovacica Wind Farm Parent Company Energy
Erste Group Investor Finance invests in Kovacica Wind Farm Client Energy
Erste Group Investor Finance invests in Louis Dreyfus Co Brasil SA Client Agriculture and Forestry
Erste Group Investor Finance invests in LSREF III GTC Investments BV Parent Company Industry and Trade
Erste Group Investor Finance invests in MaxamCorp Holding SL Parent Company Industry and Trade
Erste Group Investor Finance invests in MET Holding AG Client Energy
Erste Group Investor Finance invests in Montana Tech Components AG Parent Company Energy
Erste Group Investor Finance invests in Mubadala Investment Co PJSC Parent Company Industry and Trade
Erste Group Investor Finance invests in MVM Plc Parent Company Energy
Erste Group Investor Finance invests in MVM Plc Client Energy
Erste Group Investor Finance invests in Net4Gas Parent Company Energy
Erste Group Investor Finance invests in Net4Gas Refinancing 2020 Client Energy
Erste Group Investor Finance invests in Nordex SE Parent Company Construction
Erste Group Investor Finance invests in Nordex SE Client Construction
Erste Group Investor Finance invests in Plus-City Parent Company Industry and Trade
Erste Group Investor Finance invests in Premium Porc SRL Client Agriculture and Forestry
Erste Group Investor Finance invests in Qatar National Bank Qpsc Parent Company Finance
Erste Group Investor Finance invests in RHI AG Parent Company Construction
Erste Group Investor Finance invests in RHI AG Client Construction
Erste Group Investor Finance invests in Rhi Magnesita NV Parent Company Construction
Erste Group Investor Finance invests in Rhi Magnesita NV Client Construction
Erste Group Investor Finance invests in Sappi Ltd Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Sappi Papier Holding AG Client Agriculture and Forestry
Erste Group Investor Finance invests in Sappi Papier Holding AG Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in See Bakery Intl Doo Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in See Bakery Intl Doo Client Agriculture and Forestry
Erste Group Investor Finance invests in Steinhoff International Hldg Parent Company Industry and Trade
Erste Group Investor Finance invests in Thimm Verpackung GmbH & Co KG Client Agriculture and Forestry
Erste Group Investor Finance invests in Thimm Verpackung GmbH & Co KG Parent Company Agriculture and Forestry
Erste Group Investor Finance invests in Turkiye Is Bankasi AS Parent Company Finance
Erste Group Investor Finance invests in Turkiye Is Bankasi AS Client Finance
Erste Group Investor Finance invests in Unicredit SpA Parent Company Industry and Trade
Erste Group Investor Finance invests in Valea Foundation Parent Company Industry and Trade
Erste Group Investor Finance invests in Varta AG Client Energy
Erste Group Investor Finance invests in Verbund AG Parent Company Energy
Erste Group Investor Finance invests in Verbund AG Client Energy
Erste Group Investor Finance invests in Wendel SE Parent Company Industry and Trade
Erste Group Investor Finance invests in Wienerberger AG Parent Company Construction
Erste Group Investor Finance invests in Wienerberger AG Client Construction
Erste Group Investor Finance invests in WISD Holding Ltd Parent Company Energy
Erste Group Investor Finance invests in Yapi ve Kredi Bankasi AS Client Finance
Eurocom Holdings (1979) Ltd Parent Company Energy owns Bajgora Wind Farm Acquisition Client Energy
Eurocom Holdings (1979) Ltd Parent Company Energy owns Enlight Energy Pv Acq Client Energy
Kenes International Ltd Parent Company Agriculture and Forestry owns Caroli Foods Group Client Agriculture and Forestry
Koc Holding AS Parent Company Finance owns Yapi ve Kredi Bankasi AS Client Finance
Montana Tech Components AG Parent Company Energy owns Varta AG Client Energy
Net4Gas Parent Company Energy owns Net4Gas Refinancing 2020 Client Energy
Qatar National Bank Qpsc Parent Company Finance owns Finansbank AS Client Finance
Sappi Ltd Parent Company Agriculture and Forestry owns Sappi Papier Holding AG Client Agriculture and Forestry
WISD Holding Ltd Parent Company Energy owns MET Holding AG Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Contact: loana Margareta Vasiliu
Business Line Controlling Senior Analyst, BCR Leasing IFN S.A.
Telephone No.: +40 (21) 323 73 10
Email Address: loanaMargareta.Vasiliu@bcr-leasing.ro
Office Address: 8 Piata Alba lulia, bl. I 7, Sector 3, 031105, Bucharest
Website: https://www.bcr-leasing.ro/

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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