The employees of BRD, the second largest domestic bank in termsof assets, last autumn received 40 shares of Societe GeneraleFrench group (the majority shareholder of BRD) as part of apersonnel reward programme.
The shares awarded last autumn will effectively becomeemployees' own and will be possible to sell as late as 2015 and2016, depending on the meeting of certain targets related to BRDfinancial performance and on improving the relationship withclients. Also, the employees must stay with the group untilthen.
At the current market value, the shares are worth around 1,700euros, namely the equivalent of two monthly average salaries in theRomanian banking sector.
SocGen in late 2010 had almost 9,200 employees domestically, sothat the number of shares due to be distributed stands at 361,000.The shares were awarded to employees registered in November 2,2010.
SocGen shares yesterday traded on the stock exchange at a priceof 47 euros (193 lei).
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