RBS's new strategy: We go back to corporate, we want no more consumer loans
RBS Romania, the domestic subsidiary of Royal Bank of Scotland
group, nationalised last year by the British government in the wake
of heavy losses, will switch again mainly to the corporate client
segment, while the weight of retail operations will be low, says
Johan Gabriels, who took over the reins of the operations last
year.
"We will boost the corporate book. We have deals underway, which
will start to materialise in the coming period. The second half
will be better than the first one," said Gabriels at an event
organised on the occasion of the bank's 15th anniversary on the
Romanian market.
Gabriel reckons, though, that by December he will not manage to
recoup the decline of the first six months, with assets being in
June 15% below last summer's level.
"We will scale back the consumer loan portfolio. I no longer want
such loans," says Gabriels. Practically, retail products will be
offered only together with funding solutions for companies. The
bank will try to attract managers in the segment of VIP services,
and for employees it will come up with salary accounts and
loans.
Direct sales of loans to clients will be limited, and funding will
be almost exclusively provided with real estate guarantees.