The Central Bank of Romania recently announced that it will halt transactions with Banca Turco Romana (BTR) and applied for its bankruptcy, reported Milliyet. The bank faced financial difficulties when shareholders began withdrawing their deposits following the release of a rumor that BTR’s main shareholder Bayinder Holding was experience sever losses.
BTR is one of the largest investments of Bayindir Holding. It was established in 1994 as a commercial bank and is member of the National Union of Insurance Companies from Romania (UNSAR). BTR has four branches in Romania and offers internet banking services. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
