UniCredit Tiriac, the fourth largest bank on the market in terms of assets, is preparing for "strong growth" on the retail market next year.
The bank is set to expand its branch network, launch new products, focus on price and promotional policies targeted at new customers, and also improve the quality of services, states Zoltan Major, vice-president in charge with retail at UniCredit Tiriac.
"We will make use of the entire marketing mix to generate a strong growth in retail. Prices will be an important issue, however, promotion, improved distribution and our proximity to customers will be of greater importance," Zoltan Major told ZF in his first interview since becoming vice-president.
Major adds UniCredit will not give up its plans to achieve growth while still making a profit, mentioning the bank will also try to look at costs from the customers' point of view, especially as it targets portfolio expansion.
Major says the bank will focus on an organic growth over the coming period. "We have a great deal to do. It is very important that we focus on customers, which means positioning and specially designed products for each targeted segment".
Starting in 2008, the bank will launch service and product packages for the mass market. "We will also consolidate our offers for average and above average income clients, as well as for private banking clients. We will heavily concentrate on improving products and the quality of services, because this will differentiate us from other market players (...)".
Regarding the bank's expansion plans, Major is putting his faith on the market's growth potential. He does not believe in standard formulas for the retail market, despite the bank being part of a major international group.
An important target in 2008 will be "customer proximity", in other words, improved access to services, with credi
