Loading ...The credits granted by Volksbank have almost tripled compared with September 2006, reaching 1.79 billion euros in late September this year.
The increase was mainly due to the retail segment growth, with the Austrians selling credits worth 150 million euros on a monthly basis on this segment in the latest interval.
Volksbank managed to increase its revenues too, although the growth pace was slower in this case. The bank came to a gross profit amounting to 16.2 million euros January through September this year, as against 10 million in the same interval last year.
“We had a difficult third quarter, but in the end we managed to reach our objectives,” Gerald Schreiner, chairman of Volksbank Romania, that is the local branch of the Austrian group Volksbank, said.
The bank’s assets amounted to 2.7 billion euros in end-September, which is an increase by 166 percent on September 2006. In this context, the bank’s market share climbed to 4 percent in September, compared with 2.3 percent at the beginning of the year, Gerlas Schreiner was quoted by Ziarul Financiar daily as saying.
The bank expects a gross profit amounting to at least 23 million euros for the entire year 2007.
Volksbank based its growth on the retail segment and on the fast territorial extension. The bank has opened 23 units since the beginning of the year, currently holding 123 units on the domestic market. Moreover, the Austrians operate 75 other units in franchise, all specialized in selling credits.
Volksbank based its growth on the retail segment and on the fast territorial extension. The bank has opened 23 units since the beginning of the year, currently holding 123 units on the domestic market. Moreover, the Austrians operate 75 other units in franchise, all specialized in selling credits.
Once the bank entered top ten this year on the banking market, it announced its intention to enter top five by 2011.
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