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Nicastro, UniCredit: We would like to get into top 3 banks in Romania

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2011-06-07 10:24

Roberto Nicastro, general manager of UniCredit, the majority shareholder of Romanian bank UniCredit Tiriac Bank, said the bank’s target is to reach the top three in Romania, through organic growth and possible acquisitions.rnrn”I think it is easy to achieve an investment of 50-100 million euros over the next three years in Romania. We are now in 7th place in Romania and we would like at some point to get into top 3, but it depends very much on the opportunities they have “, Nicastro was quoted as saying.rnrn“We are in an investment stage, therefore, any revenues needed to sustain additional growth will be available. There is always a moment to invest and one to recover investments. I believe this is still a moment to invest,” Nicastro told Romanian journalists at a Milan meeting.rnrnHe do not rule out a possible acquisition as an alternative to the classic business expansion strategy of organic growth.rnrnNicastro added that UniCredit has an excellent relationship with businessman Ion Tiriac, who holds 45 per cent of UniCredit Tiriac Bank, and predicts the bank’s main shareholding structure will stay the same.rnrn

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