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December 1, 2020

Anghel: BCR was not listed as it doesn’t need stock market funding

Lucian Anghel, chairman of the Bucharest Stock Exchange (BVB)’s Board of Administration (CA) and chief-economist of Banca Comerciala Romana (BCR), stated yesterday that the bank in question had not been listed as it did not need stock market funding, Mediafax reports. “BVB needs companies which need the stock market. The main function of the stock market is to provide funding. Sadly, this function has not been put to much use lately. I don’t think you can develop something by force. You can’t force a company to get listed,” Anghel stated on Monday, when asked why Erste Bank, the majority shareholder, had opposed the listing of BCR shares. Moving on to another topic, BVB administrators propose to turn the market operator into the South-Eastern European market leader by 2015 and drafted a long-term strategy which includes closer involvement in and a more active backing of sale offers launched by the state, as well as more aggressive marketing. According to Anghel, the main factors needed to ensure BVB’s development are a highly-skilled and motivated staff, an active marketing team, and more effective communication with the investors, shareholders, companies listed and regulatory authorities.

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