Almost a year after Erste Bank took over at BCR, the biggest Romanian bank has launched its new image yesterday that reflects the colours of its majority shareholder: the logo is now a darker shade of blue, and a red "S" has been added the BCR typography, which symbolises the savings banks in Austria (S stands for Sparkasse) with a dot above it to suggest a coin being placed into a piggy bank

"The new logo shows on the one hand that BCR is part of the Erste group, and on the other that it is the biggest bank in Romania and as a result we kept the name intact," stated Andreas Treichl, chief executive of Erste and chairman of BCR's Supervisory Board. He did not care to reveal the cost of the rebranding operation for the overall network that currently numbers 520 branches, saying, however, that "it wasn't cheap."

Nicolae Danila, BCR's chief executive says there is more to this rebranding than simply a change in the logo's letters and colours. "We wanted to transform the entire system of operations first, so that clients could experience the improvements in terms of products and services, as well as the extra care - in line with European standards, with which they are treated. We now have a powerful logo, as well, to match an even more powerful BCR."

The launch ceremony for the new BCR logo took place in front of BCR's headquarters in Bucharest on a rainy weather. Those in attendance included first vice-governor of NBR, Florin Georgescu, Economy and Finance Minister Varujan Vosganian and state secretary Sebastian Vladescu, as well as the general manager of the Bucharest Stock Exchange, Stere Farmache.

"Governor Isarescu and the other bankers usually say that commercial banks give you the umbrella when it's sunny outside and take it back when it rains. We took out umbrellas today and distributed them during the rain," Treichl joked, after spend