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Banca Agricola S.A.

Sector: Commercial • Location: Romania

Source: Multilateral Investment Guarentee Agency (MIGA)

Project
Not Active

Raiffeisen Zentralbank Osterreich AG of Austria received a MIGA guarantee for its equity investment in Banca Agricola S.A. in Romania. The $47.73 million guarantee, which covers the investment against expropriation, will allow Raiffeisen to further develop its activities in Romania. Under the development plan, the bank will both expand current services and enlarge the number of banking services i

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The project “Banca Agricola S.A.” is an infrastructure initiative in the Commercial sector, located in Romania. Taiyo aggregates data on it from Multilateral Investment Guarentee Agency (MIGA).

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Participants

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Status

Original status

not active

Taiyo status

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Description

Description

Raiffeisen Zentralbank Osterreich AG of Austria received a MIGA guarantee for its equity investment in Banca Agricola S.A. in Romania. The $47.73 million guarantee, which covers the investment against expropriation, will allow Raiffeisen to further develop its activities in Romania. Under the development plan, the bank will both expand current services and enlarge the number of banking services it offers to small and medium-size businesses, as well as to retail customers. Banca Agricola, the third largest branch network in the country, is expected to help broaden the range and quality of commercial banking services and provide lower costs of financing. Through worldwide cooperation agreements linking Raiffeisen Zentralbank and numerous commercial banks, the project should enhance the inflow of FDI into Romania. An estimated $10 million will accrue to the government over the next three years in the form of taxes and dividends.

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

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