PRESS RELEASE
“Banca Tiriac further expands its territorial network’’
Banca Tiriac opened recently its 57 new territorial unit in Baia Mare.
On September 29, 2004 the new branch of Banca Tiriac was officially opened in the presence of the president of the bank Mr. Selcuk Saldirak, HO representatives and local authorities.
The branch building is located on 56, Progresului St. in the commercial and financial center of the city. The office space reflects the corporate image of the bank and has been designed to meet the clients needs for new and modern banking services.
The new branch of Banca Tiriac in Baia Mare will offer a wide range of products and banking services to companies, including SME’s, with a main focus on private individuals.
“The opening of a new bank on the competitive market of Baia Mare will improve the quality and the efficiency of the banking services locally. It will also contribute to the development of products and services that meet the local financial needs, which will eventually have impact on the economic development of the city and the county.
The wide range of products and services offered by Banca Tiriac through a network of 57 branches, agencies and point of sales are now available for Baia Mare inhabitants too. I am confident that Banca Tiriac will succeed to built up a significant clients’ portfolio on local banking market. Banca Tiriac is focusing on both retail and corporate segments of clients and diversifies permanently its range of services in order to meet the market requirements. Recently we have expanded the range of products and services addressed to individuals with new products – Creditul Acasa(housing loan), Creditul Vacanta, Certificate of Deposits “Procent Plus”, CDs in hard currency with quarterly payable fix interest, Romtelecom and Connex collection agreements, Euro settlements for VISA cards. For the card holders and merchants Banca Tiriac offers now safe transaction for online shopping through 3 D Secure e-commerce service. Our short-term plans include the further launching of new, innovative and modern products and services addressed both to individuals and corporate clients: call center, credit cards, internet and mobile banking”, stated Mr. Selcuk Saldirak, President of Banca Tiriac.
Banca Tiriac has succeeded to built up an impressive portfolio of products and services addressed to private individuals and companies that fulfills as well the crediting as the savings needs of its clients.
“Banca Tiriac is permanent concerned to offer to all its clients the best financial solutions, fully tailored to their needs. We are aware that a bank has an important role in the economy and we want to contribute to the development of the local business community by supporting the SME’s activity and by providing specific services to our individual clients.
The quality of the management, team work, transparency throughout the activity, the confidence of our clients and the loyalty and the professionalism of our staff will be the basis for developing good results for the branch in Baia Mare. I am confident that the opening of Baia Mare branch will highly contribute to the development of the new business opportunities for both the local companies and for the bank. We want to become an important player when it comes to the quality in serving our clients” stated Mr. Cosmin Tache, branch manager.
NOTES FOR THE EDITORS
Banca Tiriac
is the largest Romanian private bank and was established after 1990.The bank is the result of the courage and the vision of its founding members -“Ion Tiriac” Group of Companies. Some 5,500 individuals and companies joined this initiative as shareholders.
Banca Tiriac
became operational in April 1991, and its initial share capital was successively increased, totaling presently over ROL 1.000 billion.
The Extraordinary General Assembly of Shareholders of Banca Tiriac approved, at the end of April this year, a new capital increase of ROL 207 billion, by means of cash contribution of the shareholders, which will allow the future development of the bank, in accordance with the objectives set in the business plan.
In the first eight months of 2004 the financial results of Banca Tiriac showed a significant increase. In comparison with the previous year the bank’s assets increased to over ROL 23,910.6 billion (23% increase vs. Dec. 2003 and of 50% vs. Aug. 2003). The operating profit increased by 17% in comparison with the same period of the previous year, reaching ROL 985.6 billion. Banca Tiriac was ranked the 3rd in the banking system by net profit at the end of 2003. Own funds increased with 80% in comparison with the same period of 2003. The clients’ funds had increased by 33% vs. Aug. 2003. The market share of Banc Tiriac in this respect has reached 3.6%.
Banca Tiriac has 57 territorial unit (30 branches, 24 agencies of which 19 Metro agencies and 3 points of sales) which covers almost all the important centers in Romania. The bank’s clients portfolio at 31.08. 2004 was of 646,719 clients of which 615,719 individuals and 30,850 corporate clients
The number of cards issued increased to over 315,000 at present. The bank has developed a network of 208 ATM’s and 1,527 POS’s to serve its cardholder base. By the end of 2004 the number will increase to 250, respectively 2.000.
This year for the 3rd year in a row Banca Tiriac was awarded “The bank with highest card acquiring volume” in No-cash gala.
In September Fitch Ratings announced the upgrade of long term rating of Banca Tiriac from B to B+ with a stable outlook and reaffirmed short term rating at B, individual at D and support at 5T.