The bank will move towards smartphones and Internet - this isthe future bet of Omer Tetik, appointed at the helm of CreditEurope Bank, a medium-sized player controlled by Turkishbillionaire Husnu Ozyvegin, last autumn.
Credit Europe, formerly Finansbank, is most often associated withits credit card with interest-free instalments and a bonus for use- CardAvantaj, launched as far back as the early 2000s, which madethe bank leader on this segment, although in terms of overallassets it is not a top player.
After seeing fast growth in the boom years, and exceeding the onebillion-euro mark by assets, the Turks have been among the first toresort to cuts when the crisis came, cutting around a third of itsemployees and branches. Having a flexible organisational structure,the Turks are now seeking a new niche.
"CardAvantaj remains an important product, but it needs to bedeveloped. We don't want to remain just 'the credit card bank", wewant to develop our business on the Internet and on phone banking,"Tetik, 37, told ZF in an interview. The Turkish bank has in thepast few years kept its position as leader of the bank cardsmarket, with a portfolio of 325,000 cards. Over the past few yearsthe card portfolio has stagnated, but for this year the target is360,000 units.
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