Banca Comerciala Feroviara pressured to be sold

1 iulie 2019 • General

Nicolae Cinteza, director of Bank Supervision in National Bank of Romania retires in August 2019.

Banca Comerciala Feroviara is being rushed to be sold by that time. 

Cinteza is fully knowledgeable about the problems with the supervision of this bank and is cognizant that his colleagues will not have the same incentives for cover ups. 

Cinteza and his boss Isarescu are aware that the civil and penal immunity granted by article 25 in the Charter of National Bank of Romania is not covering all the angles of their practices. 

Isarescu Mugurel, the governer of National Bank of Romania is fighting for re-election with the help of several politicians with similar history. 

As a trivia the governor daughter was hired in the past by Banca Comerciala Feroviara to signal the lucrative relationship between Isarescu Mugurel and Blidar Valer, the owner of the Banca Comerciala Feroviara and Astra Vagoane.

Banca Comerciala Feroviara received several formal sanctions from NBR but was allowed to stay without capital increases as asked by the legislation and the local practice. Moreover Banca Comerciala Feroviara received the license without respecting the rule for number of independent shareholders (Cinteza and Isarescu didn’t notice). Perhaps hiring the daughter of Isarescu was the way forward for exceptions, a route that Becali was not aware of when his application for a bank license got rejected. 

Since inception in 2009 Banca Comerciala Feroviara is a loss making banking entity (except for 2 years) that was not sold until now due to the fact that the potential buyers are reluctant to take on board the strange loans granted to the business relationships of the owner Blidar Valer. The examples are plenty spanning employees of the local transportation bodies of several municipalities such as Oradea, Arad, Cluj and/or Timisoara or a state secretary in the Ministry of Transportation indicted for dodgy practices. A case study of such business practices is the loan extended to the Director Crit of RATB Bucharest, accompanied by a contract between RATB and Astra Vagoane

The pressure on Banca Comerciala Feroviara is ratcheting up as August is approaching … 

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6 Comentarii

Un banc!! « Motanul Incaltat
01-07-2019 la ora 5:10 pm

[…] banc!! Poate e o mare tampenie, dar cand l-am auzit, am ras ca un dobitoc!! Probabil e de vina si caldura… […]

02-07-2019 la ora 1:48 am

Ce știe și ce trebuie să facă BNR :

[…] PNL-ul, cu toata eruditia si politichia unui Rares Bogdan, cu toata prezenta de spirit romantica a unui Ludovic Orban, cu tot […]

[…] nici englezescul Wednesday pentru cuvantul miercuri. Citesc faptul ca pana in perioada interbelica se folosea pentru Miercurea Ciuc denumirea de Sereda Cicului, sereda insemnand, deci, romanizat, […]

09-07-2019 la ora 6:20 pm

Trecând peste “engleza” utilizată, textul e doar un atac al unui fost angajat care a pierdut un proces cu banca. Să stii sa pierzi e o calitate rezervată oamenilor maturi.

Lucian Isar
10-10-2019 la ora 7:36 am

Nu ati inteles ce spun si de asta va scuzati?

Daca nu intelegeti in engleza poate intelegeti textul In mare pentru ca subtextul s-ar putea sa va aduca acolo unde va este locul, cu reducere desigur pentru varsta