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Bancpost celebrates 15 years of presence in the Romanian market

The 15 years of Bancpost, of this business success that you have achieved, are a clear sign of the enormous changes that Romania has experienced They are also a sign of the chances that democracy and freedom are offering to the country and its people.The people in Romania have deprived themselves of a lot on their way to the European Union. They have proceeded with courage with radical reforms in order to achieve this goal… although the fight against corruption must continue to be improved”.

The statement was made by Mr. Gerhard Schroeder, former Chancellor of the Federal Republic of Germany who was the keynote speaker at Bancpost’s 15 year anniversary gala dinner which has held on Tuesday November 28th, at the Parliament Palace in Bucharest.

This year Bancpost celebrates 15 years in the Romanian market as it was established in 1991, and in 2002 it was the first fully privatized bank in the Romanian banking system. EFG Eurobank Ergasias (Eurobank EFG) is Bancpost’s main shareholder controlling today 77.56 percent of its share capital.

To celebrate this landmark anniversary Bancpost organized a series of events for its main clients, business partners, Romanian authorities, personalities and media representatives in Bucharest.

A top management delegation from Bancpost’s parent company Eurobank EFG group, led by Mr. Nicholas Nanopoulos, CEO and Mr. Nikolaos Karamouzis, deputy CEO, attended the events.

Mr. Nanopoulos welcomed the former German Chancellor, by highlighting the progress the Romanian people have achieved and the market opportunities they have created for foreign investors.

We must acknowledge the role that successive Romanian governments have played in stabilising the economy and creating the macroeconomic conditions that have enabled the banking sector to develop and make its own contribution to the country’s economic progress. Bancpost’s successful trajectory over the years is emblematic of something bigger, namely, Romania’s own progress in the last fifteen years. Romania has now become a favourite destination for foreign direct investment as investors seek to take advantage of the many market opportunities available here as well as the high-quality skills of Romanian people”, Mr. Nanopoulos said.  

During the last year Bancpost has adapted a new corporate identity and a new philosophy, reflecting its integration in the Eurobank EFG group, said Mihai Bogza, Chairman of the BoD of Bancpost.

“Operations were optimized, backed by the implementation of a new, state-of-the-art centralized IT system, the business model was reengineered and our personnel was trained towards a pro-active attitude and sales abilities improvement; the network was rationalized and a 3-year remodelling project was initiated”, said Mihai Bogza.

Sound corporate governance principles were implemented, including the segregation of the administrative and executive management.As a consequence, Bancpost received The Best Bank in Romania in Corporate Governance 2005 Award fromthe prestigious Euromoney publication.

To consolidate its position as a key player on the retail market, Bancpost has implemented a new infrastructure in order to better service individuals, small enterprises and professionals: comprising all 225 units of the Bank (by January 2007)  and the 8 coordinating Regional Retail Centres, the new structure is supported by centralized processes, thus achieving greater flexibility and effectiveness.

The Bank’s Corporate Banking clients are served through a network of eight Business Centres and their 14 satellite offices which cater for the financing needs of medium-sized enterprises, while the Large Corporate Division in the Head Office provides various tailor-made banking services for large corporations.

Bancpost is today one of the best capitalised banks on the Romanian market, with approximately 209.5 million EUR-equivalent own funds.  

“At the occasion of its 15 year anniversary Bancpost is well prepared to fulfil its vision and to become a bank of leading choice for corporate and retail clients in Romania, operating with a sense of responsibility towards its shareholders, employees and society”, said its Chairman, Mihai Bogza.