UniCredit Tiriac Bank is set to launch a consumer finance unit in autumn; until then, it will start selling insurance products of Germany's Ergo, Zoltan Major, the vice-president in charge of retail, told ZF.
"We need around six months more for the consumer lending firm to become operational. We already have all the necessary licences at a group level and we've started hiring. UniCredit Consumer Finance will provide all the standard products to mass retail customers," said Major.
The company will use the experience of Italy's UniCredit bank in the field.
At the same time, he says credit insurance and unit-linked insurance that Germany's Ergo group, part of Munich Re giant, will sell through UniCredit on an agreement signed by the entire group for several markets are being implemented.
"Products have been defined, Ergo has its people ready and by the end of second quarter they will appear in our product packages".
By the same time, the bank also wants to launch a new call centre platform, which could be run by UPA, the management services arm of UniCredit. In terms of human resources, Major says the bank has found good recruitment bases outside Bucharest.
UniCredit is now expanding its network in full gear. Since the beginning of 2008, it has opened 16 branches and until summer a total of 70 branches should become operational. "We've already stepped up the programme and in three years we should open around 300,000 new branches. It's very important for us to get closer to customers (...)".
UniCredit head of retail reckons there is pressure on wages, but considers this is understandable given market conditions.
Besides regular branches, UniCredit is also readying to open units equipped only with machines enabling customers can carry out operations on their own. At the same time, it wants to enter malls and expand its p
