HVB Group to focus on organic growth

Germany’s HVB Group is planning to grow on the Romanian market, setting out to attain 5% market share in terms of assets by 2005 and to open 4-6 subsidiaries annually. The bank is thus planning to double its market share, which now revolves around 2,4%-2,5%. As for subsidiaries, the bank has only five, after almost five years of operations. “As a consequence of the decision of Bank Austria Creditanstalt (member of HVB Group) not to participate in the privatisation of BCR, HVB Bank Romania will continue to concentrate all its efforts on further organic growth,” said Helmut Bernkopf, deputy chairman of HVB Bank Romania. ZF