“This year started very well for us. We completed the restructuring process and we expect a one-digit lending increase by yearend, both on the corporate and retail segments,” stated Georgakopoulos.
Bancpost almost halved its territorial network in the past four years, from over 300 to 166 units. Its headcount declined to around 2,500 people. The Greek-held bank in 2014 was forced to step up restructuring moves amid losses of million lei piled up since the crisis onset. Banpost has had five general managers since 2008.
In 2014, the retail segment was more dynamic than the corporate one. We believe lending will be much better on both segments, said Georgakopoulos.
Bancpost had a strong start to the year in 2015 on the corporate segment, being part of the consortium that granted a RON145 million syndicated loan to Energomontaj.
In mid-2014, Bancpost ranked tenth in Romania’s banking system, with a 3.3% market share, the equivalent of assets worth above RON11 billion. The bank has constantly lost market share in recent years amid lending decline.
Greek banks are now in a challenging situation as the parent groups are pushing them to rely more on resources attracted from clients. Bancpost in late 2014 had deposits worth EUR1.9 billion (RON8.5 billion).
Bancpost head mentioned that at the bank’s level the NPL ratio is in line with the market average, which revolves around 14%.
(English version by Catalina Apostoiu)