Banca Transilvania, the biggest top ten lender with Romanianmajority capital, has an investment budget of 23.8 million eurosfor this year, with an additional 10.5 million euros to be investedin the group's subsidiaries.
Around 3.5 million euros have been allocated for the subsidiarynetwork, but the biggest amount - 7.14 million euros, is budgetedfor the IT system. The bank has also allocated 1.6 million euros todevelop the Internet banking service, which is expected to reach150,000 users, compared with 127,000 at the end of 2009. For thecard infrastructure, the POS network is set to rise to 15,000 unitsfrom 11,600 at present.
Last year Banca Transilvania was under major pressure from thecrisis in the absence of a strong strategic shareholder.Investments amounted to a little over 4 million euros, comparedwith a budgeted level of 5.05 million euros.
For 2010, the bank plans to increase its credit portfolio by 17%after in 2009 it only achieved an 8.5% increase, as opposed to theplanned 16%.
In terms of resources attracted, they are expected to rise by 18%,after in 2009 the volume of deposits climbed 24% amid increasedliquidity demands.
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