Romexterra budgets 8m-euro gross income

Romexterra budgeted an almost 13% increase in gross income it for this year, to 27.6 million RON (equivalent to some 8 million euros). The bank’s assets should increase by almost 65%, to a little over 2 billion RON (some 600 million euros). The net profit is expected to see a marginal increase of 5% reaching a total of 23.2 million RON. Romexterra’s shareholders are to approve the business plan, as well as the spending and revenue budget at the beginning of next week. Under the business plan, the bank will “focus on corporate clients and on SMEs”, aiming to become the leader of this market. The bank’s portfolio of these clients is expected to grow by 90% this year. According to the bank’s management, focusing on such clients should help the business develop faster (than the market average), so that the bank’s market share (in terms of assets) could increase from 0.8% in December to an estimated 2% in 2010. However, Romexterra will also rely on a doubling in the number of consumer and investment credits granted to individual clients.