C.R. invests in eight branches

C.R. Firenze bank (the former Daewoo) is preparing to inaugurate eight subsidiaries in the first part of this year, four of which are in Bucharest and the other four in Brasov, Cluj-Napoca, Arad and Ramnicu Valcea. Recently, a new headquarters of the Craiova branch has also been opened. The main shareholder is C.R. Firenze, which operates an over 550-branch network, corporate and private banking centres in central and Northern Italy for over one million clients. The offer in Romania for individuals includes real estate credit (with a maximum 30-year maturity), credits of up to 100,000 euros for personal needs (with a 25-year maturity), as well as Internet Banking. According to data reported to the NBR, assets reached 75.4 million euros last year, up 32.2% against the figure for 2005, accounting for a 0.1% market share. In terms of its assets, C.R. Firenze is currently Romania’s 32nd largest bank on the market.