The total volume of assets owned by Alpha Bank Romania in 2004 came to around 750 million euros. This corresponds to a market share of 3.3-3.5%.
"The total volume of assets at the end of 2004 was worth 750 million euros - however, the data is still preliminary. We have a three-year development plan, which requires a doubling of assets by the end of 2007," Christos Giampanas, executive chairman with Alpha Bank Romania, told Ziarul Financiar.
For this year Giampanas anticipates a growth in market share far above the level of 3.5%, coming at a time of market expansion and tougher competition.
He explained that in line with the development plan the bank will grow organically over this period and will focus on the development of its territorial network.
"Traditionally, we have had a well-shaped corporate segment. We are now trying to grow in the retail segment as well. Our plan involves organic growth such that by 2007 we could have a territorial network of 50 branches. We believe this to be possible," he added.
By the end of the year, says Giampanas, Alpha Bank will complete the implementation of a new information system, provided no delays occur. The decision to change the IT system was made within the group and many European branches will move to the new system. This will allow branches to be better connected. At the same time, the new system is more customer-oriented and easier to use due to having been designed for the retail segment.
According to Giampanas, the investment plan will be financed from the bank's own sources and shareholder contributions, without resorting to a bond issue, as mentioned last year, at least for the time being.
liviu.chiru@zf.ro
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