The bank will compete both with traditional banks and fintechs.
Salt Bank will initially target individuals and subsequently expand to self-employed persons and then possibly to micro-companies. For the bank’s strategy and development, investments amount to EUR80-100 million, with the possibility of boosting the sum, according to Gabriela Nistor, the bank’s general manager.
The plan is for the bank to reach 1 million clients in three years.
Salt Bank, formerly Idea Bank, with bonds listed at the Bucharest Stock Exchange, in December 2023 raised its share capital by RON165 million via a cash contribution by Banca Transilvania (RON163 million) and BT Investments (RON2 million).
In the wake of the operation, Salt Bank’s capital reached RON417 million.
(English version by Catalina Apostoiu)