Volksbank to open 10 business centers in Romania, plans to double market share on corporate segment

Volksbank Romania will open 10 corporate business centers in the country, in Cluj, Timisoara, Oradea, Sibiu, Brasov, Ploiesti, Constanta, Iasi and Bucharest. The lender thus plans to double its market share on the corporate segment by 2018, to 3%, according to the bank. The first center will be opened in Cluj this month and will offer clients expert advice and dedicated services. This year, Volksbank targets a 20% increase in the corporate business. At the end of 2013, the bank had with 12% more corporate clients than the year before, managing loans of about EUR 507 million. This represented 20% of its portfolio. For this year, Volksbank has allotted funds of around EUR 150 million to finance companies, mainly SMEs, and until 2018, the bank budgeted assets of EUR 940 million for this segment. Volksbank Romania started activity in 2000 and serves over 190,000 clients in 135 branches across the country. At December 2013, its assets amounted to EUR 3.1 billion. Irina Popescu, irina.popescu@romania-insider.com