BCR, the biggest domestic bank in terms of assets, is gearing upto enter the niche of gold sales to individuals, where onlyGreece's Piraeus is operating for the time being.
Gold has this year brought a return of around 40% to investors,thus being one of the most profitable investments, just like in2009, when it had climbed by 32%.
Over the past two years, BCR, controlled by Austria's Erste, hassold financial gold only to private banking clients, who have agreater financial power and are seeking ways to diversify theirinvestments. Usually, the minimum quantity that had to be purchasedstood at 5 kilos per deal, but smaller deliveries were alsonegotiated.
As part of its new retail strategy, BCR is getting ready to sellgold bullion and coins issued by the Austrian Mint, starting fromvery small sizes, of just two grams, to one kilo.
BCR will sell gold through certain selected branches, but RăzvanFurtună, head of the sales department of BCR Treasury, has notprovided any further details for the time being.
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