Egnatia Bank will launch debit and credit cards in the second half of the year, as part of a strategy to approach the retail segment more aggressively. "We will also develop crediting products attached to these cards. We are planning to develop our own network of ATMs, but we will probably also work with another bank", Styliaonos Sofianos, chairman of Egnatia Bank Romania told ZF. He said this year they would focus more on developing the retail segment and that the bank was also planning on expanding its territorial network to attract more customers. Egnatia contracted a 7 million-euro subordinated loan from its Greek owner to finance its investments. "We have only drawn one million euros so far because we didn''t need cash, but we have a seven-million-euro ceiling approved, which we can use whenever we may need to. Under the circumstances, I don''t think we will need further capital increases", adds Sofianos. At the end of last year, the bank also launched a credit for personal needs, Egnatia For You, through which it grants loans of up to 165,000 euros for up to 20 years. Interests start from 9.3% a year for RON and from 8.5% a year for euros, in line with BUBOR and EURIBOR indicators, to which a margin is added. ZF
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