About SIF Banat-Crișana

Company profile

Societatea de Investiții Financiare (SIF) Banat-Crișana S.A. is established since November 1996 as a joint stock company in accordance with the provisions of Law no. 31/1990 on trading companies, being a Romanian legal entity with entirely private capital, with the duration of company’s operation of 99 years.

SIF Banat-Crișana is established as a self-managed investment company and is authorized by the Financial Supervision Authority (ASF) as an Alternative Investment Fund Administrator (AIFM), in accordance with Law no. 74/2015 with Authorization number 78/09.03.2018, registered in the ASF Public Register with number AFIAA PJR07.1AFIAA / 020007 of 09.03.2018.

In accordance with the provisions of Law no. 243/2019 on alternative investment funds, SIF Banat-Crișana qualifies as a closed-ended, diversified Alternative Investment Fund, addressed to retail investors (AIFRI), self-managed, and was authorized by the Financial Supervisory Authority (ASF) as Alternative Investment Fund addressed to Retail Investors (AIFRI) in July 2021, registered in ASF FIAIR Register under number PJR09FIAIR / 020004 / 01.07.2021.

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.

Main activities

The main activity of SIF Banat-Crișana, according to CAEN  (National Classification of Economic Activities) is financial intermediation, except for insurance and pension funds activities (CAEN code 64).

The main object of activity is other financial intermediation (CAEN code 6499), as follows:

• portfolio management;
• risk management;
• other activities carried out within the collective management of an investment fund, allowed by the legislation in force.

Branches

SIF Banat-Crișana has one branch, located in Bucharest, an entity with no legal personality, having the same activity field as the parent-company.

History

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-Crișana 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-Crișana’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.

2021: SIF Banat-Crișana authorized as AIFRI

SIF Banat-Crișana was authorized by the Financial Supervisory Authority (ASF) in July 2021 as Alternative Investment Fund addressed to Retail Investors (AIFRI) having as depositary bank Banca Comercială Română S.A..