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Bank Constanta – Q1, 2012 Financial Results, Future Plans

Published: April 30, 2012 | 3:10 pm
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The COMMERCIAL TIMES

Bank Constantas main strategy in 2012 is geographical diversification. The bank started working on this strategy intensively from the beginning of the year: 9 new branches were opened, 7 out of them- in regions, on new locations. 15 more branches will be opened till the end of 2012.

During this period Bank Constanta has made a big effort to position itself not only as a lender bank but also a deposit receiving institution.

The success of this campaign was reflected on the bank’s financial indicators: there’s a big difference between the number of deposits opened in December (GEL 13 mln 600), 2011 and in the first quarter of 2012 (GEL 21 mln 300).

Total growth of actives in comparison to the first quarter of 2011 is around 76%, loans grew by- 87%.

Geographical expansion and further development of services didn’t cause increase in the bank’s risks.

According to the March, 2012 data, Bank Constanta’s annual profit indicator is 38%.

Based on the data from the National Bank of Georgia (NBG), Bank Constanta moved from eleventh to tenth position, according to first quarter, 2012 actives.

NBG data also show that Bank Constanta has the best return capital coefficient.

First quarter, 2012 proved to be a successful period for Bank Constanta in terms of credit portfolio as well (Growth GEL 22 mln from last year- 19%): the bank closed 2011 with GEL 118 mln, first quarter, 2012 with- GEL 140 mln).

The number of clients also speaks for the successful development of the bank during the first quarter, 2012: the number of clients was increased by 5 000 (17%). Significant changes are obvious in launching new products and services: consumer loans, internet banking, card overdraft.

During last quarter, Bank Constanta was active in respect to sales and marketing directions.

Lots of work was conducted in regards to consumer rights: Service Monitoring and Consumer Rights Service was created at the bank, the main task of which is to provide clients with high quality services possible. Client education and awareness is one of the main issues for Bank Constanta, as a socially responsible bank.

First quarter of 2012 has been an important period for the bank’s CSR activities.

As a part of the social responsibility strategy, top management of Bank Constanta received special trainings so that to get better educated on what social responsibility is about  and make it work within the organization.

One of the most important highlights of the last quarter is a decision made during the shareloders’ meeting on increasing Bank Constanta’s capital by GEL 3 000 000 (three mln).

 

 

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