Serdar Oghan has been the chairman of UGBI Bank Romania since the bank was established, in 1998. Before coming to Romania, he worked with the Treasury Department of the National Bank of Turkey and Garanti Bank Turkey.
Ziarul Financiar: To start with, considering it is a hot issue, can you tell us how last week's banking system events influenced your activity?
Serdar Oghan: It is logical that any trouble that occurs within the banking system of a country is felt by member banks. But this does not happen as a rule. I could say that last week's events had a positive effect over us because the way we work is better than the methods employed by other banks operating on the Romanian market. We have a sophisticated, but also conservatory approach as regards risk.
Moreover, beside norms imposed by NBR, we abide by norms enforced by the Central Bank of Holland (UGBI Bank is a Dutch legal person with Turkish capital). This surveillance is an outside factor that fully contributed to our activity. It is true that it cannot be said we are the best, but we are anyway better than Romanian banks that lack the experience of work within a liberal economy.
Z.F.: As far as I know, the products and services portfolio is relatively limited?
S.O.: Indeed, we are specialised in a certain activity (trade financing), and not in any type of activity. On the other hand, we focus on attracting deposits from customers, especially as funds coming from Amsterdam are also derived from population savings. Being an intermediary within the system, as banks should be in fact, we finance trade with this money on a short term, less than a year.
We do not grant credits on 2-3 years, we do not grant loans to state organisations, we take very strong guarantees and, what is most important, we understand our customers' business. We learn what they do, because this way we can point to risks involved by project financing.
Z.F.: How would you characterise the activity of UGBI Bank in Romania?
S.O.: We have been present on the Romanian market for two years and I can say that we have been doing well. I do not deny it could have been better, but we are content that when we came we turned to trade financing. I think we are the only bank specialised in this sector, though there are other banks which include financing within their products and services portfolio.
So far we have not granted any non-performing loan. We have granted loans worth over 30 million dollars, which accounts for about half of total balance. Thus, half our assets are placed in loans, the rest in government bonds, deposits with other banks and other assets.
Z.F.: Are you going to launch any new products during the following period?
S.O.: From the point of view of trade financing, we can say we have new products each day. There are not two financing projects including identical riders. Each project structure is adapted to customer demands. If you refer to new products such as cards, we are not interested in consumer credits.
Z.F.: What are the criteria you consider when accepting a project?
S.O.: First, we require proof that the client knows how to operate in exports. Then, we consider contracts brought by the client, the company's record, the names of the customers the client works with. As a bank experienced in financing, we know the names of large raw material traders and we can form an opinion right away.
Z.F.: What image does UGBI Bank have on the foreign markets?
S.O.: Rating agencies are the best proof. Standard&Poor's international rating agency has recently improved the rating granted for long-term crediting and for deposit certificates issued by United Garanti Bank International N.V., from B plus to BB-.
According to the same source, the rating for euro-denominated bonds issue worth 75 million euros and carrying an interest of 8% was also improved, from B plus to BB-.
We are the only bank with Turkish capital inside and outside Turkey that has managed to get a better rating that the sovereign rating granted to this country.
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