Banca Romaneasca expects 25% increase in retail deposits

Banca Romaneasca said it expected a 25% increase in its retail deposits and 10% in assets volume in 2009. The lender’s prior projections indicated 2.8 bln euros in assets.

“The early year evolution topped our initial predictions in our retail deposits. This is why we are confident that by yearend, we will touch a 25% growth from 2008”, said Lakis Couninis, executive director of Banca Romaneasca’s retail and network division.

Saving activity will mark a fast growth pace in 2009, “even if on a medium term, the deposit yields will follow a mild downtrend”.

Banca Romaneasca added it expected a gradual growth in assets volume, evaluating it at 10%. “We projected a moderate growth, of 10%, as our focus remains on corporate clients, small and medium sized businesses”, the bank representatives said.

In an interview published last year, the CEO of BR, Andreas Maragkoudakis said the bank’s assets would touch 2.8 bln euros, roughly 47% higher than end-2007, and 6.6% below the initial target.

Banca Romaneasca has scaled back its expansion pace this year, the strategy following to be modified in compliance with the market evolution. The chain is currently covering 150 branches.

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