BCR: Our business model proves bank is sound

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The Romanian Commercial Bank (BCR) business model made this bank a sound one, influenced to lower extent by the financial crisis effects, stated on Monday Retail and Private Banking Manager Martin Skopek.

„Our business model proved to be a viable one. Turmoil appeared on the Romanian banking market in the first half of the year represented a favorable moment for BCR, because we could prove the bank’s soundness and the business model viability the bank develops”, said Skopek.

He pointed out that BCR, due to its business plan, has been less affected by the crisis, although recognized that the business saw a decline.

„We lost in volume, but the loan structure is much better as for the portfolio risk degree. We recorded a drop of 60 percent in the loan portfolio in Q1 2009 compared to Q1 2008, but we re-started a step by step growth, month-on-month, and we can grant more loans now”, emphasized BCR Vice- president.

Martin Skopek gave assurances that BCR has a strong deposits base, and does not need the intervention from its parent bank.

„We are still in the position to increase the deposits base without foreign aid from some other financial institutions, such as for instance Erste Bank. People understood they must save the money in order to take care of their families”, underscored Skopek.

BCR Vice-president said that the bank expansion was not stopped and in 2009 the number of units will rise.

„We plan to reach 600 units till this year-end. 50 new branches will be opened, of which 16 are part of 2008 expansion plan and 34 part of this year strategy.

We are also to launch new products on risk insurance segment”, stressed BCR Vice-president.

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