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Greek investors have challenging aims for 2008 - views of bank officials

Greece ranks 9th by foreign investors in Romania, with 4,102 companies registered. Most of the Greek companies are deeply rooted in the Romanian business environment, bringing a significant contribution to some key economic sectors such as banking, telecommunications, constructions, the food industry.

Daily Nine O'Clock interviewed several Greek investors in Romania, asking them to answer the following three questions: 1. When did you enter the Romanian market and which are the projects you've successfully completed so far? 2. What are your goals for 2008? 3. How would you characterize the Romanian business environment and the relationship with the local authorities? Here are the answers offered by bank chief officials. Sergiu Oprescu, Alpha Bank Romania Executive President 1. Alpha Bank Romania, established in 1993, belongs to Alpha Bank Group, one of the largest financial groups in Greece. Being the first foreign bank that came to Romania after 1990, Alpha Bank Romania has innovatively contributed to developing the local financial sector through bold actions such as the launch of the first real estate/mortgage credit, the opening of the first banking unit outside Bucharest or the use of alternative channels in order to promote the bank's products and services. Some of the recent projects, that keep with the same pioneering trend, are: the launch of Alpha Club - the first bank customer loyalty building program in Romania, Alpha-All-in-one, the first refinancing plan, Alpha Open - the personal needs credit featuring recharging options, Alpha Dreams - the savings account for children and Alpha Point - the new concept of banking unit located within commercial areas. Alpha Bank has also won a leadership position on the corporate financing segment, with its credit portfolio doubling last year. In 2007 Alpha Bank has financed more than 10 of the residential projects developed in Bucharest, coming to the fore through the complex financing solutions offered to developers as well as to the individuals that want to buy houses in the new residential centers. 2. The main goal for 2008 will be to strengthen our market position. We will particularly aim for the retail segment, the growth of which will be supported by the launch of value-added products and services that will round off the existing array of 125 products and services. On the corporate sector we will continue to carefully analyse the market and to offer complete financing solutions, relying on Alpha Bank's experience on this segment. 3. Alpha Bank's entering Romania back in 1993 has been proof of the confidence in the local market. 15 years have passed since, a period in which our business has had a remarkable evolution. The challenges of a growing market were turned into opportunities and Alpha Bank Romania has become the group's centre-piece in this European region. *** Andreas Maragkoudakis, Banca Romaneasca Vice-President: 1. The National Bank of Greece group entered Romania in the ‘90s and was initially operating a single subsidiary. In 2003 it bought the controlling stake in Banca Romaneasca and subsequently unified the two entities. In Romania, the group also operates a financial services firm - Eteba, a leasing company - Eurial and an insurer - Garanta Asigurari. Through NBG financial support, Banca Romaneasca capital was substantially increased, reaching at present over EUR 115 million. In a strongly competitive environment, the market share increased from 2.09 percent in December 2006 to 2.68 percent in December 2007. At present, Banca Romaneasca has 125 branches, out of which 31 are located in Bucharest. 2. Banca Romaneasca and all the domestic subsidiaries of NBG (National Bank of Greece) group will rebrand this year, to have a common identity. NBG, a major player in Greece and Southeastern areas, is set to carry out its international re-branding process this year, for a consistent identity of its subsidiaries. We'll launch the re-branding process over the next six months and it will include all the subsidiaries that currently have different names. We'll try to continue aggressive growth; we want to boost financing granted by around 80 percent this year, but we won't try to achieve this at all costs. In addition, the bank will have to finalize the implementation of a new basic IT system, which will affect the performance of its network. With regard to the bank's network, this is expected to comprise around 160 braches by year-end, from 122 in December 2007. Developing on a solid basis, unrivalled in South-Eastern Europe, the group intends to offer its clients in Romania a unique and advantageous package of banking and financial services to meet their requirements and needs. 3. The overall market will continue to grow aggressively, but I hope banks will be more cautious because the risks are now higher. On the one hand, the deteriorating international and domestic business environment has pushed risks higher and on the other hand, the system already comes after a series of years of rapid growth, which cannot continue indefinitely. I believe the economic environment did not look good at the beginning of the year, although there has been no indication of a strong deterioration either. *** Gerasimos Tsiaparas, Emporiki Bank General Manager: 1. Emporiki Bank - Romania S.A. has been operating since 1996 and is based in Bucharest, Romania. Emporiki Bank owns 98.48 percent of the institution's share capital. The subsidiary operates a network of 16 branches and one agency. 2. As a member of the Emporiki Bank Group, Emporiki Bank - Romania S.A. aims to improve its position in the Romanian banking market by following a customer-centered approach and offering enhanced services to all its customers. The Bank intends to further expand its activities in 2008 by launching 40-50 new branches in Romania, boosting retail banking and SMEs segments by implementing a true personal banking value proposition based on objective advise, improving service quality to a level worthy of a modern, dynamic bank. 3. Before and after the EU accession, Romania showed positive trends, ranking 1st in Europe in terms of reforms favourable to business environment, and, worldwide, it has climbed 51 notches in the last two years. In this context, the Greek banks in Romania, after a relatively long period of discreet presence on the financial market, adopted lately a more aggressive attitude, based especially on developing the retail segment. The positive evolution of the Greek business in Romania, its diversification and the constant increase of investments demonstrate that Greece is an important business partner for Romania. We have built a very strong relationship with all our strategic partners (including here local authorities) by contributing to the overall market growth. Sursa: http://www.rompress.ro

Tags: romania first financial group services banca emporiki romaneasca alpha which greece investors business environment market banking greek

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