Asset sale is likely to be one of the streams of revenue Banca Transilvania (BT) could rely on next year, with the 25% stake in Asiban as an example in this regard, states Robert Rekkers, the bank's general manager.
"I believe we will raise a significant sum from the sale of the Asiban stake, but I don't think the deal will be finalised by the end of this year, so that we can record it in 2008," Rekkers told ZF.
As for BT Asigurari, the specialised firm of the group, he says all strategic options are being considered, but will not comment on market information saying the firm is for sale.
The bank can also count on customer deposits, on possible new capital increases, as well as on financing lines from the EBRD, its main shareholder, and from other foreign banks.
On the other hand, Rekkers says there will be further investments in the expansion of BT financial group along non-banking areas. One of the major projects is Medicredit Leasing, a medical equipment leasing firm in which BT now holds almost 39% of stock.
BT head also announced an "extremely aggressive" campaign meant to take the company onto the mandatory private pensions market together with Aegon Dutch insurance firm. BT is also trying to tap into the real estate market, with a real estate department having been recently created inside the bank. Under the circumstances, Rekkers would very much want a real estate fund.
After five years since he took over the management of BT, Rekkers declares himself "very proud" of the lending institution's rise to the 5th position in the system in terms of assets, with some 3.14bn euros in mid-year. The bank is worth 1.7bn euros on the Stock Exchange including the latest capital increase. When Rekkers joined the bank, its value stood at 170m euros.
"The bank has witnessed healthy, prudent growth, but with decisive steps, which showed on the market. I've had a vision of the BT project from the beginning and I can say we are not where I want to be, yet".
Rekkers chose not to make any predictions about how the bank would look in another three years. "Looking at the top 4 banks in the system or at Bancpost's ambitions, it'd be unrealistic for me to say we want to reach top 3. But we'll continue to fight and I hope we can reach a market share of above 5% this year (...)".
Rekkers is further counting on organic growth. However, he firmly rules out a possible acquisition in the region. "(...) There's still enough room for growth here".
The bank has just reached 400 branches, plans to have 440 by yearend and 500 in 2008. And yet, BT is going abroad: in October, the bank will open a subsidiary in Cyprus to better serve its corporate customers and to develop private banking services for the first time.
BT plans
Asset sale is likely to be one of the streams of revenue BT could rely on next year
Can also count on customer deposits, on possible new capital increases, as well as on financing lines from the EBRD, its main shareholder, and from other foreign banks
Will further invest in the expansion of BT financial group along non-banking areas, such as leasing, mandatory private pensions and real estate
Is further counting on organic growth
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