Small Romanian bank’s new owners target double market share after rebranding
Marfin Bank Romania, part of Greek Vardinogiannis Group, is changing its name into Vista Bank Romania, one of the last steps in a business strengthening process that included a capital increase of EUR 30 million in September 2018, the enlargement of the management team, and refreshing the financial products and services portfolio.
Vista Bank ranks 22nd out of the 35 banks in Romania based on assets’ value, and the short-term target is to double the market share 1% and creating a sustainable profitable business model in order to be able to participate in the coming consolidation of the market.
“We strongly entrust the potential of the Romanian market where we are committed to play a crucial role in a sustainable way, with long-term perspective and the unparalleled strength of the Vardinogiannis Group,” said Antonios Mouzas, CEO Vista Bank Romania.
The lender targets mid corporate companies and individuals with income above-average, specifically companies with sales between EUR 3 - 50 million and individuals with net monthly income above RON 5,000 (EUR 1,060).
With 30 branches across Romania, of which 9 in Bucharest and 21 outside the capital, the bank’s strategy is to open more branches in key markets-cities. The bank uses a model in which every client has its own relationship manager and receives customized service.
Vista Bank closed 2018 with RON 10.7 million (EUR 2.3 mln) net profit. End of April, the bank had a loans portfolio of RON 950 million and deposits worth RON 1.77 billion.
(Photo source: the company)