UNICREDITO TO LAUNCH NEW OVERDRAFT SYSTEM*

Views on BG | August 20, 2001, Monday // 00:00

Luigi Lovalio, acting chairman of Bulbank`s board of directors for Pari Daily

- Unicredito is the second largest bank in Italy. Bulbank is the largest Bulgarian bank, holding a quarter of the Bulgarian bank system`s money. Large scale, large responsibility. Could you explain what the medium-term and the long-term plans of the bank are for the Bulgarian market. What are your highlights?

- We would like to introduce client differentiation approach. We have set a different strategic goal for each segment, which, if summarised, can be formulated as follows: we want to become the leader on the large business market, we want to become the preferred bank for the small and medium-size businesses and to establish a solid base for developing the market of petty banking. To achieve this we take full advantage of Bulbank`s experience on the domestic market and Unicredito`s know-how on the international markets, including the east European one and the Italian market. Some 20 teams work for covering the whole spectrum of activities. As of today, we can say we cover the whole range of businesses, from small to large ones and the confidence of our clients will be growing. The next step is concentrating on the leasing activities and life insurance. And last, but not least, with Unicredito Italiano as our strategic partner, we will be increasingly instrumental in attracting foreign capital in the country, helping investment projects of national significance and more economic growth forward. We are fully committed to generating value not only for our clients and employees, but for the Bulgarian society as a whole.

- How do you plan to bring the bank closer to the clients, how do you plan to make it more open, both in terms of investment and retail services?

- Focus on the client is the principle dominating our services. generating value for the client is the first and foremost objective of the Unicredito family. We want to approach all the potential clients with their diverse needs, by offering a number of specialised products, tools and specialists. This is why we introduced, at the very beginning of the restructuring process, special departments, differentiated according to the type, size and needs of the various institutions, businesses, and individual clients. I would like to stress is our specialised form of crediting called PRACTICA which goes together with the BUSINESS LEADER package. It is a flexible financing for operation capital under the form of an overdraft.


- What is the size of the overdraft?

- It depends on the condition of the company, on its turnover and its crediting ability, but generally we see it within the range of BGN 30,000 to 40,000 at the main interest rate plus 10%. In case of liquid collateral, the interest equals the main interest rate plus 6%.

* Title belongs to the Bulgarian Breaking news editorial staff

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