Volksbank, the lender ranking 6 in Romania with total asset value of EUR 4.7 billion, announced today the launch of a new branding campaign, aimed at making the banking services functional and transparent. To support the new brand values, the company also launched a new savings program, which offers bonuses on deposit interest rates and options for automatic transfers to the savings account, on specific dates.
Lucian Cojocaru, Vice-president of Volksbank, stated that the financial effort for the new brand image totaled EUR 2 million, with EUR 200.000 spend on merchandising for the 140 units that Volksbank currently operates at a national level. From the beginning of this year, the lender slashed 42 units. Also the company saw its employee number reduce by 100 to approximately 1400. Johann Lurf, directorate president at Volksbank Romania, the network is properly dimensioned the business needs, and no expansion is planned in 2012, based on the economic forecast.
According to the newly designed strategy, Volksbank will address both the retail and corporate segments, and will also create a new line of services for the small enterprises. According to Cojocaru, the bank currently has 140.000 retail clients and 3000 in the corporate sector.
The recently launched products of Volksbank include a housing loan”CASA” with refinancing options, the simple account and the salary account with overdraft facility and a savings plan. The company will also launch new credit cards in the following period, focusing on functionality.
Volksbank has been present on the Romanian market since 2000. Its main shareholders are Österreichische Volksbanken – AG, DZ Bank, WGZ Bank and Banque Federale des Banques Populaires.