Millennium Bank opens 38 new units by end-2008

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Millennium Bank will open 38 new subsidiaries by the end of 2008, which will make it possible for the bank to be present in 21 counties of Romania, the bank said in a press release.
The bank will open this year 20 credit centers, for natural persons only, and 18 financial center, offering products and services to both natural persons and companies.
 
"Millennium Bank has registered sustained growth in the local market, and its territorial extension remains one of our priorities. We want to be present in many cities of more than 100,000 dwellers, to be closer and closer to our clients. By the end of 2008, we plan to number some 80 subsidiaries, " said general manager of Millennium Bank Jose Toscano.
 
Millennium Bank now holds some 16 units in Bucharest, 12 of them are credit centers, three are financial centers and one is a private banking subsidiary. By end-2008, the dwellers of Bucharest can address 27 Millennium Bank units, 20 of them are credit centers, 6 are financial centers and one is a private banking unit.
 
Currently, the bank has units in Bucharest, Bacau (east), Brasov, Cluj (center), Constanta (south-east), Iasi (east), Oradea (west), Ploiesti (south), Timisoara (west). The network is to get extended to the cities of Arad (west), Buzau (south), Baia Mare (north), Craiova (south), Galati, Piatra Neamt (east), Pitesti, Ramnicu Valcea (south), Satu Mare (north), Sibiu (center), Suceava (east) and Targu Mures (center).
In order to support the development of the network of banking units, the Millennium Bank team will raise the number of its employees, from the current 560 to 850, at the end of 2008.
 
Millennium Bank, the subsidiary of the biggest private group in Portugal, Millennium Bank bcp, started its activity in the Romanian market on Oct. 11, 2007, by simultaneously opening 39 subsidiaries, in Bucharest and in eight cities. Millennium Bank addresses both companies and the population, by a large range of products. The initial investment for Romania stood at 40 million euros, and by the end of 2011, the bank estimates an investment worth 300 million euros, the bank is to number 100 subsidiaries by end-2009.
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