The assets of UniCredit bank surged in value to 1,535 million RON (426 million euros) in the first half of this year, a 53% increase on last June. The bank now has more than 210 million RON (58.3 million euros) in capital.
After the Italian group dropped out of the race for BCR (Romanian Commercial Bank), the bank began focusing on organic growth, something it is trying to speed up before the merger with the local branch of HVB begins. Until that time HVB Romania needs to complete its integration with Banca Tiriac following the signing of a merger contract between the two banks. While internationally HVB is being taken over by UniCredit, the situation is quite different in Romania where the Italian bank has a much lower market share than the German-Austrian institution. In this situation, UniCredit''s growth up until the time the local merger with HVB begins will be crucial to gaining the dominant position within the future entity.
UniCredit''s growth drive is mainly focused on the retail segment. Although this particular market is also HVB''s weak point, the latter will solve the problem by merging with Banca Tiriac, which will see the emergence of a new, more solid bank with a well-balanced portfolio in both the retail and corporate sectors.
UniCredit currently has 36 branches in its network - of which 13 are located in Bucharest (the latest to be opened is in Bucharest''s Berceni district) - through which it provides services to private customers and small and medium-sized companies.
"UniCredit Romania will accelerate its organic growth policy and, by the end of the year, we aim to have 50 branches to our network," said Rasvan Radu, the executive chairman of UniCredit Romania.
According to Radu, besides the traditional distribution channel (bank branches), UniCredit also provides its clients with alternative channels and complete e-Banking solutions.
"UniCredit has the local market''s first Mobile Banking service and one of the best performing Internet Banking products, according to research into electronic banking services," he said. razvan.voican@zf.ro
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
