VER THE PAST SIX MONTHS Bancpost granted over 20 million Euros in funding for European projects

• The largest project co-financed by Bancpost had a total budget of 15 million Euros

Over the past six months, Bancpost granted credit facilities for the beneficiaries of European grants of more than 20 million Euros, in order to execute investment projects of approximately 50 million Euros, says Mihai Bogza, the chairman of the bank.

The largest project co-financed by Bancpost had a total budget of 15 million Euros, in the sector of renewable energy.

In the near future, Bancpost expects an increase in the number of requests for loans under the financing schemes for which the results of the selections were announced and/or for which the signing of the grants contracts has begun. The bank"s officials consider that in 2011, the importance of bank letters of comfort will increase when submitting the projects and/or upon signing the financing contracts. The objective is to allocate the European funds to those projects that have secured enough sources for a private co-financing. For banks, this will mean a very early involvement in the evaluation of the investment projects, which can only be beneficial for companies and for authorities alike, the bank"s officials say.

The bank also expects an increase in demands for banking products and services for sub-contractors of the beneficiaries of European grants, in particular for major infrastructure projects.

• Signs of recovery in the demand for loans

In November, Bancpost saw the number of loan applications triple, in particular for personal loans. Next year the bank will focus on all its customer segments. In the area of corporate and SME customers, Bancpost will focus on lending and treasury products. For individual customers, the bank will offer products such as credit cards of mortgage backed consumer loans.