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UniCredit: number of banking units in Romania to rise 23 percent until 2010

Romania will record in the next three years the highest rise percentage in the number of banking units (23%) among the states in Central and Eastern Europe, reads a study conducted by the UniCredit Group analysts.

'We know the market and we can manage a significant increase, despite the environment we operate in, which is characterized by a high risk. In the next three years we intend to have an annual growth of 19.3 percent. The CEE area remains the main area of our focus, where we will open 1,300 units until 2010. We focus entirely on organic growth and significant expansion of the network, especially in Turkey, Russia, Romania and Ukraine', said Federico Ghizzoni, head of the Markets Department of UniCredit Group Poland and member on the Steering Committee for CEE in Bank Austria. As to the trend of loans, UniCredit estimates for Romania an annual growth rate of 25.3 percent until 2010, with the rise in retail loans to stand at 30.2 percent and 18.5 percent rise in corporate loans. The value of the deposits opened in the banks in Romania will rise until 2010 by 19.6 percent per year. UniCredit Tiriac Bank is one of the most important players on the Romanian banking market, with total assets of 3.7bn euro (on March 31, 2008). UniCredit Tiriac Bank serves some 600,000 clients through 179 units nationwide. The bank provides in Romania a wide range of specialized products and services through its partners, UniCredit Leasing Corporation, CA-IB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Processes and Administration and HVB Housing Bank. Sursa: http://www.rompress.ro

Tags: unicredit percent romania until banking units euro

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