Bancpost is ready to fight to regain the market share lost inthe past few years, says Peter Weiss, 51, who at the beginning ofthe year took over the bank's executive management, specifying thatits Greek shareholder - EFG Eurobank group - wants to continue tosupport the development of local operations, including with cashfreed up after selling the Polish subsidiary.
"I have a mandate to boost the bank's business," Weiss told ZF inan interview. Seeing as Bancpost has lost ground over the last fewyears, he says Eurobank's ambition is for the local subsidiary toremain a "systemic bank", which, as defined by the NBR, would meanholding an over 5% market share. At the end of last year,Bancpost's market share by assets had narrowed to less than 4%, aten-year low.
The head of Bancpost reaffirms Eurobank's interest in Romania,after the group recently decided to sell 70% of the Polishsubsidiary to Austria's Raiffeisen, with this being the first moveof regional repositioning of a Greek player.
"Our partnership with Raiffeisen in Poland will free up two billioneuros in cash, which we will be able to use on other markets in theregion, Romania included," says Weiss. For 2010, the Eurobank groupannounced Romanian operations had fetched it a net profit of almost16 million euros (calculated according to international financialreporting standards), after an 8 million-euro loss in 2009.
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