Millennium set to double client portfolio
Portugal's Millennium Bank, which launched operations from
scratch domestically at the end of 2007, wants to reach at least
100,000 clients, meaning, however, a more than doubling of the
portfolio created in the three years in business.
"All our strategies target attracting as many clients as possible
and we're adjusting our product offering to this goal. We had
45,000 clients at the end of last year, but we would want to reach
100,000 clients," says Eliza Erhan, head of the marketing and
product development department of Millennium Bank.
In 2009, the Portuguese bank revised its growth strategy in
Romania, as initial plans, which entailed a strong emphasis on
consumer loan sales, were no longer feasible. Now, Millennium is
trying to achieve balanced growth from three lines of business:
mortgage loans, deposits, as well as deal brokerage for as many
clients as possible.
The bank's balance sheet is still small, with the loan volume
totaling just EUR383 million in March, against a non-governmental
lending market of EUR49 billion.