Finansbank to expand branch network

Finansbank, the Turkish bank owned by the National Bank of Greece aims to increase the number of its branches by 85 to 485 in 2008 and increase the number of its employees by 1,100, according to Turkish press sources quoting the General Manager.

Finansbank also plans to increase its market share in total loans to 6.9%, in personal loans to 8% and in total deposits to 4.8%. Regarding credit cards, the Managing Director stated that the bank plans to increase its market share to 9% in 2008 vs. 8% in 2007.

As of 9M07, Finansbank had 379 branches and 8,875 employees after adding an additional 70 nbranches and 1,124 employees respectively from the beginning of the year. Its loan market shares ranged from 5.6% in business loans to 10.2% in mortgages. The stated targets are in line with forecasts included by the National Bank’s business plan.