Raiffeisen Bank eyes energy and infrastructure

Raiffeisen Bank Romania will pay a special attention to financing the companies dealing in the energy and communications sector, with the latter being interested in “the good distribution of the territorial network, the cash management offered and the IT system,” Marinel Burduja, vice-president of the bank who is also in charge of its corporate division said. “The important clients for the bank are and will be the shipyards, as well, which grow, post good results and are productive, and the foodstuffs industry. A special attention will be paid to infrastructure projects, though. “Romania will need funding for infrastructure development for many years to come, particularly because we are now talking in terms of EU accession. One cannot possibly have accession without developing infrastructure,” Burduja says. He feels the corporate sector will account for about 70% of the bank’s total profit this year.  Raiffeisen Bank accounted for 5% of the corporate lending market in 2002 and plans to triple the lending volume for this segment in 2003. “I think we’re the fastest growing bank on the market, as we grant $10-$20 million’s worth in loans every week. We are the fourth leading bank now and I think we’ll be the second top bank for the corporate sector in two years,” Burduja added. ZF