“To me this is a closed topic. It is my clear wish to convince everybody who is involved that a listing of BCR is not necessary,” Treichl told a news conference in Vienna.
Erste, owner of a 69.4% stake in BCR, was floated on the Bucharest Stock Exchange in February 2008.
“We have made a major effort to bring Erste group to the Bucharest stock exchange…The quality of Erste will be negatively affected if BCR is listed,” Treichl said.
Treichl added he will be “very angry” if the operation were to happen despite his opposition.
Treichl’s statements came a few days after a group of minority investors requested BCR shareholders met to discuss listing its shares in Bucharest.
Under the privatization deal signed in 2006, Erste was supposed to float BCR’s shares by October 2009 at the latest. Per an agreement with the five Romanian investment funds that own a 30.11% stake in BCR, the Austrian bank has delayed the procedures until 2011.
BCR reported a 67.6% drop in its consolidated net profit after minorities to 158.2 million (EUR37.3 million) in the first half of 2011, due to lower operating income and high provisions. (EUR1=RON4.2403)