BRD-SocGen has decided to do away with the accepted norms of banking sobriety and is approaching the market with a sales campaign of unprecedented aggressiveness normally only associated with large trade networks.
What is the main objective behind this move, besides speeding up the sales process during the winter holidays? "Securing a higher level of sales in January and February, when there's a gap... Losses in the retail segment are high during this period and we've tried to solve this problem," says Sorin Popa, deputy chairman of BRD and in charge of the bank's retail operations.
The campaign is due to last for three months, with promotions focusing on three areas: consumer credit, cards and deposits.
Though the move brings to mind the strategies normally adopted by major retailers - fliers, the drawing of prizes, salesmen and special events - the bank's objectives are more modest, given the type of products being promoted. "We would like to achieve at least 30-40% of what they get from a campaign. Clearly, there will also be a follow up in order to sustain growth," stated Sorin Popa.
At the same time, BRD is opening new branches at an accelerated pace. In the first month following the launch of their new concept of banking branch, closer to the potential customers, BRD has registered more than 10,000 new accounts.
"We will apply several conceptual and sales formulas. All players want to boost their sales, but they do not as yet have all the necessary means," explained Popa.
The bank's infrastructure will have to absorb the expected surge in demand in terms of the higher number of customers entering a branch.
BRD is aiming for a market share of 17-18% by the end of this year. "We could do more. BRD has the potential to reach a share of 20-23%," said the bank's deputy chairman.
razvan.voican@zf.ro
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