Societatea de Investiții Financiare Banat-Crișana S.A. is a Romanian legal entity, set up as a joint stock company with entire private capital. SIF Banat-Crişana was set up as a joint stock company in November 1996, through the reorganization and turn up of Private Ownership Fund I Banat-Crișana, under Law no. 133/1996 for the turn of Private Ownership Funds into financial investment companies.
SIF Banat-Crișana operates as a closed investment company with a diversified investment policy, in accordance with the regulations issued by the Romanian National Securities Commission (CNVM) / Financial Supervisory Authority (ASF).
The Company is self-managed and registered with CNVM Register in the category “Other Undertakings for Collective Investments” (AOPC) under number PJR09SIIR / 020002 / 2006.
SIF Banat-Crișana was authorized by the Financial Supervisory Authority (ASF) as Alternative Investment Fund Manager (AIFM) in March 2018, registered in ASF AFIAA Register under no. PJR07.1AFIAA / 020007 / 09.03.2018
Legal Entity Identifier (LEI) is 254900GAQ2XT8DPA7274.
The subscribed and paid up share capital is of RON 51,542,236.30 divided into 515,422,363 shares at a nominal value of 0.10 RON per share. The Company has been listed on Bucharest Stock Exchange since 1999, its shares being traded under ticker SIF1, Premium tier.
The records of Company’s shares and shareholders is kept by S.C. Depozitarul Central S.A. Bucharest.
The assets depository services are ensured by Banca Comercială Română.
The financial statements and the statements regarding the Company’s operations are audited by Deloitte Audit SRL.
The main activity of SIF Banat-Crișana, according to CAEN (National Classification of Economic Activities) is financial intermediations, except insurance and pension fund activities (CAEN code 64).
The main object of activity is other financial intermediation (CAEN code 6499), as follows :
a) carrying out financial investments in order to maximize the value of own shares in accordance with the regulations in force;
b) management of investment portfolio and exercising all of the rights related to the instruments in which investments are made;
c) risk management;
d) other activities auxiliary and associated to the collective investment activity, in accordance with the regulations in force.
SIF Banat-Crișana has one branch, located in Bucharest, an entity with no legal personality, having the same activity field as the parent-company.
1992: Establishment of Private Ownership Fund 1 Banat-Crișana, predecessor of SIF Banat-Crișana
In accordance with the law regarding the privatization of commercial companies, five Private Ownership Funds (FPP/POFs) were established. Each POF was allocated 30% of the share capital in Romanian companies. Thus, Private Ownership Fund 1 Banat-Crișana (POF 1) was established in Arad. One of the main objectives of POF 1 was the restructuring and performance management of the allocated portfolio, initially formed of stakes in over 1,500 companies. The location of the majority of portfolio companies in counties in the Western and North-Western part of Romania enabled POF1 specialists to know thoroughly the business environment in this areas.
1993 – 1995: MEBO privatization (Management and Employees Buy Out) carried out by POF 1 in this period consisted in the transfer of shares held by POF 1 portfolio in 273 companies to the management and employees of these companies. This process was performed through the transfer of shares held by POF 1 in exchange of Certificates of Ownership (ownership deeds issued according to law). POF 1 transferred a portion of share capital amounting to ROL 130.3 billion.
1995: POFs’ regional public offer program
POF 1 together with the other POFs initiated a second regional public offer called “POFs Regional Public Offer” aiming at accelerating the privatization, based on maximum transparency and an open and unrestrictive participation of the public to the privatization process. The program promoted by POF1 included 38 companies in the portfolio, out of which the stocks of 8 companies were later listed on the Bucharest Stock Exchange. The sale of shares within the public offer was performed in exchange of the Certificates of Ownership held by the public. A portion of POF 1 share capital amounting to ROL 179 billion was subscribed in this program.
The Mass Privatization Program (MPP)
In accordance with the Law regarding the acceleration of privatization, 4,000 Romanian companies were included in MPP, subsequent to the distribution to the public and exchange of nominative privatization coupons into shares. POF1 was actively involved in MPP, developing a network of 230 subscription offices in 11 counties while approximately 670,000 privatization coupons were collected. POF 1 also prepared the share transfer documents to the citizens who subscribed in 1,649 companies in the portfolio. The portion of share capital transferred by POF 1 in MPP was of ROL 1,472 billion.
1996 – From POF 1 Banat-Crişana to SIF Banat-Crișana
SIF Banat-Crișana was established as a joint stock company in accordance with Law no.133/1996 regarding the turn of Private Ownership Funds into investment companies, being the successor of POF 1 Banat-Crișana. The company had approximatively 500,000 founder shareholders. In 1996, over eight million Romanian citizens became SIF Banat-Crişana’s shareholders as a result of the capitalization of a certain portion of POF 1 profit and the distribution to public as shares.
1999: Listing on the Bucharest Stock Exchange
Starting November 1, 1999, SIF Banat-Crișana’s shares were listed on the First Tier of Bucharest Stock Exchange, traded under ticker SIF1. SIF 1 shares were included in BET-FI index, dedicated exclusively to financial investment companies.
In 1999, the Romanian National Securities Commission granted the final authorization for the operation of SIF Banat-Crișana as an investment company.
2006: SIF Banat-Crișana meets all operation conditions in accordance with the harmonized capital market law.
SIF Banat-Crișana was authorized by the Romanian National Securities Commission in accordance with the provisions of Law no. 297/2004 regarding the capital market. The company was classified in the category Other Undertaking for Collective Investments (AOPC) with a diversified investment policy.
2018: SIF Banat-Crișana authorized as AIFM.
SIF Banat-Crișana was authorized by the Financial Supervisory Authority (ASF) as Alternative Investment Fund Manager (AIFM) in March 2018.