“We are very, very carefully analyzing the existing product and service demand. We do not want to launch certain products if we notice that there is no special interest in these. And this because we want to grow in smaller spurts, but sustainably,” Tulin said.
At present, Banca Feroviara is taking the necessary steps for opening the current account and connecting to the electronic payment system at the National Bank of Romania (BNR). Tulin said that these operations usually take a few months, so the bank could officially enter the market towards the end of this year.
Tulin estimates that the bank will have some 60-70 employees by year-end. “And also, by the end of this year, we will open two branches in Bucharest, two more in Arad [western Romania] and, hopefully, one in Cluj [northwestern Romania]. We may even open more units,” the official added.
The bank’s initial share capital is of RON 45 million (some €10.65 mln). Tulin indicated that the lender will operate a capital increase in 2010, “according to the business plan approved by BNR.”
