Portugal's Millennium Bank, which launched operations fromscratch domestically at the end of 2007, wants to reach at least100,000 clients, meaning, however, a more than doubling of theportfolio created in the three years in business.
"All our strategies target attracting as many clients as possibleand we're adjusting our product offering to this goal. We had45,000 clients at the end of last year, but we would want to reach100,000 clients," says Eliza Erhan, head of the marketing andproduct development department of Millennium Bank.
In 2009, the Portuguese bank revised its growth strategy inRomania, as initial plans, which entailed a strong emphasis onconsumer loan sales, were no longer feasible. Now, Millennium istrying to achieve balanced growth from three lines of business:mortgage loans, deposits, as well as deal brokerage for as manyclients as possible.
The bank's balance sheet is still small, with the loan volumetotaling just EUR383 million in March, against a non-governmentallending market of EUR49 billion.
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