Banca Romaneasca targets credits worth 2.3bn euros

Banca Romaneasca, the local branch of the National Bank of Greece, has budgeted an 80% increase in the value of credits to be granted this year, to 2.3 billion euros. According to preliminary data, Banca Romaneasca closed last year with credits worth 1.3 billion euros. Under the circumstances, the bank’s assets are expected to increase to 3 billion euros, from around 1.9 billion euros at the end of last year, according to Andreas Maragkoudakis, general manager of Banca Romaneasca. This should ensure a market share increase (in terms of assets) to 3.5% by the end of the year. This year, the bank is set to open another 33 branches, and reach 155 branches. In 2007, the Greeks opened 46 branches. “This territorial expansion is part of an aggressive growth strategy, which started last year and entails both tapping into new territories and developing products on the corporate and retail segments,” says Maragkoudakis. The new branches will open primarily in urban areas.