| 1923 | The National Company for Industrial Lending is created as a public institution, with the State holding 20% of the share capital, the central bank 30%, and the rest being held by individuals, amongst whom a group of former directors of Marmorosch Blank & Co., the first Romanian modern bank. The mission of this new institution is to finance the first development stages of the industrial sector in Romania. |
1948 |
After World War II, pursuant to the Nationalization Law of June 1948, the National Company for Industrial Lending passes into the property of the State, becoming the Investment Credit Bank. |
1957 |
After the reorganization of the financial system, the Investment Credit Bank obtains a monopoly position for the medium and long term financing of all industrial sectors in Romania, except for the agriculture and food industries. It takes a new name and becomes the Investment Bank. Over this period, the majority of the funds granted by the World Bank are managed through the Investment Bank. |
1990 |
The monopoles that the specialized banks exercise in their specific fields of business are over. The Romanian Bank for Development is set up as a joint venture commercial bank, taking over the assets and the liabilities of the Investment Bank. It is granted a universal banking license. |
1998 |
In December the sale - purchase agreement is signed between Société Générale and the State Ownership Fund, the Romanian organism managing the State holdings) whereby Société Générale subscribes for a 20% increase of the share capital and purchases a stake so that its ownership reaches 51% of the increased share capital of BRD. |
1999 |
The State Ownership Fund sells to the EBRD 4.99% of BRD's share capital. |
2001 |
BRD is listed at the Bucharest Stock Exchange, in the firts tier, becoming in short time one of the most traded company. |
2003 |
Following a rebranding campaign, the Romanian Bank for Development becomes BRD - Société Générale Group. The new brand aims to consolidate the Bank's position and to render the public more aware of the identity of the parent company. |
2004 |
Société Générale purchases the residual shares held by the Romanian State at BRD; its ownership rises from 51% to 58.32%. |
