Banca Transilvania has a 24m-euro investment budget

Banca Transilvania, the biggest top ten lender with Romanian majority capital, has an investment budget of 23.8 million euros for this year, with an additional 10.5 million euros to be invested in the group’s subsidiaries.
Around 3.5 million euros have been allocated for the subsidiary network, but the biggest amount – 7.14 million euros, is budgeted for the IT system. The bank has also allocated 1.6 million euros to develop the Internet banking service, which is expected to reach 150,000 users, compared with 127,000 at the end of 2009. For the card infrastructure, the POS network is set to rise to 15,000 units from 11,600 at present.
Last year Banca Transilvania was under major pressure from the crisis in the absence of a strong strategic shareholder. Investments amounted to a little over 4 million euros, compared with a budgeted level of 5.05 million euros.
For 2010, the bank plans to increase its credit portfolio by 17% after in 2009 it only achieved an 8.5% increase, as opposed to the planned 16%.
In terms of resources attracted, they are expected to rise by 18%, after in 2009 the volume of deposits climbed 24% amid increased liquidity demands.