Cypriots at Marfin seek to gain ground

With a new management team, the Cypriots at Marfin Bank are seeking to resume market share growth after last year’s abrupt slowdown, targeting the 1% mark by December.

“In Romania there are many growth opportunities for a bank our size, because many players have taken a wait and see approach. The Marfin group has a strong position as far as liquidity is concerned and they promised to support our business growth locally. We want to secure a 1% market share by the end of the year, then we will aim higher,” says Doros Ktorides, general manager of Marfin Bank Romania. This could drive the bank into the top 20 out of 42, from the 23rd position held in December last year.
Ktorides came to the helm of the bank from the position of manager in charge of debt collection at group level. His tasks, however, also included coordinating the group’s international lending business, so he kept a close eye on the progression of the Romanian subsidiary in the past, as well.
Ktorides says Romania is the most important external market for Marfin, and that the group, with 43 billion euros in assets, the equivalent of half the Romanian banking system, is seeking to consolidate its position here.