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Raporti Vjetor 2009 I ANNUAL REPORT 2009 Emporiki Bank 10-years success in Albania Emporiki Bank - Albania S.A. 59 Kavajes Str., Tirana, Albania Tel.: +355 (0) 4 258755 Fax: +355 (0) 4 258752 e-mail: [email protected] 1 Raporti Vjetor 2009 I. MESSAGE TO THE SHAREHOLDERS Message to the Shareholders The financial and political developments of the past year have shaped up new challenges and opportunities for the banking sector, while at the same time, the severe crisis that broke out especially during the last months has brought about considerable upheaval in the field of the economy and the broader socio-political arena. Within this volatile environment, Emporiki Bank is to further enhance our competitiveness, we have pursuing consistent efforts and has been taking all redefined our commercial strategy, with the launch measures necessary in order to return to profitability of a wide array of products and services aiming at and continue its development. The centralized cred- responding even to the it control system that we implement, based upon most demanding banking The centralized credit the standards set by Crédit Agricole, in conjunction needs of our individual control system that we with our retail network redeployment plan, the ef- and business customers. implement based upon the fective management of our operational costs and With the re-designing of standards set by Crédit the optimization of our employees’ development, our branches accord- Agricole, in conjunction with have already started showing results. In 2009 Em- ing to the standards of our retail network poriki Bank has communicated a new more modern the new retail banking redeployment plan, the face, focusing on the customer and its employees model of Emporiki and effective management of our as the bank’s driving force. Moreover, the continu- the redeployment of our operational costs and the optimization of our ous support of Crédit Agricole, Emporiki’s majority network with a focus on employees’ development, have shareholder, is a significant competitive advantage high-growth potential ar- already started showing for Emporiki in the Greek market. The full integra- eas, we seek –and have results. tion of Emporiki to the biggest retail banking Group achieved to a great ex- in Europe and one of the most powerful financial tent already– to further organizations in the world, safeguards our Bank integrate our operation to the high standards set by with liquidity, capital adequacy, knowhow and best our majority shareholder. At the same time we make practices and brings on guarantees to the custom- adjustments, when appropriate, to the Greek mar- ers of the bank following the inclusion of the brand ket requirements, remaining focused on constantly name of Crédit Agricole to the new corporate iden- improving our customer service. Twenty Emporiki tity of Emporiki Bank. The Restructuring & Develop- branches all over Greece operate already according ment Plan 2009 – 2013, presented in October 2009, to the new retail-banking model and, according to sets a new overall framework for Emporiki’s opera- the current planning, in total more than 50 branches tion. The first results from the Plan’s implementa- of Emporiki Bank will have adopted their image and tion are already visible and countable, proving that operation to the new model standards, by the end our bank is on the right track. In particular, the Re- of 2010. In parallel, our key figures, as included in structuring & Development Plan is based upon four the FY 2009 Financial Results Announcement of basic pillars, i.e. cost of risk reduction, streamlining Emporiki Bank Group, are in line with the Restruc- of the bank’s cost base, enhancement of our com- turing& Development Plan. We look towards the mercial performance and a redefinition of our hu- future, take determinative decisions and promote man resources management. Additionally, in order our competitive advantages with the solid support 2 Annual Report 2009 The vision of Emporiki Bank is “to be the privileged long- standing professional banking partner of its clients, for all their personal needs and projects in Greece and abroad”. Jean - Frédéric de Leusse Alain Strub Chairman of the Board of Directors Vice-Chairman of the Board of Directors and CEO Jean - Frédéric de Leusse, Alain Strub, Chairman of the Board of Directors Vice-Chairman of the Board of Directors and CEO of Crédit Agricole. The framework within which we be even more so. In such difficult times, however, a wide array of productswork and and servicesoperate aiming remains at responding volatile.Twenty The recoveryEmporiki branches of weall over identify Greece the operate challenges already and opportunities ahead even to the mostthe demanding Greek banking economy needs ofand our theindividual restorationaccording of to its the cred new retail-banking- and move model and,forward according with to determination, a concrete and business customers.ibility in the international financialthe field, current alongplanning, with in total strategy more than and50 branches the given of Em- support of our employees, the efforts for development of theporiki banking Bank will sector, have adopted so their as image to andbring operation Emporiki to the back to the heart of the With the re-designingconstitute of our branches fundamentals according to also the stan- for Emporiki’snew model standards, further by theGreek end of 2010. society In parallel, and ourbusiness key activity. dards of the newfuture retail banking development. model of Emporiki Within and the this re- economicfigures, as includedenviron in- the FY 2009 Financial Results An- deployment of our network with a focus on high-growth nouncement of Emporiki Bank Group, are in line with the Re- potential areas, wement, seek –and Emporiki have achieved Bank to willa great fully extent exploitstructuring the &concrete Development Plan. We look towards the future, already– to furthercompetitive integrate our operationadvantages to the high that stan- it possessestake determinative - decisionsin- and promote our competitive ad- dards set by ourcreased majority shareholder. liquidity Atand the sameown time capital we vantagesadequacy- with the after solid support Jean of Crédit - Frédéric Agricole. de Leusse make adjustments,the when recent appropriate, Share to the Capital Greek market Increase re- that was fully Chairman of the Board of Directors quirements, remainingcovered focused by on Crédit constantly Agricole, improving remaining our The framework disengaged within which we work and operate remains customer service.from any kind of government support.volatile. TheWe recovery pursue of the Greek economy and the restora- tion of its credibility in the international financial field, along unabated the rationalization of all our operations Alain Strub and further develop our commercial activities, al- Vice-Chairman of the Board of Directors and CEO ways seeking to improve customer satisfaction and to build a long-term and mutually beneficial rela- tionship with our customers. The substantial and 05 ANNUAL REPORT 2009 consistent support of Crédit Agricole and the com- mitment of the people of Emporiki to implement the Development & Restructuring Plan 2009 – 2013, are key factors that will lead Emporiki to profitability in 2011 and to a course We look towards the future, of growth in the years take determinative decisions to come. The year and promote our competitive 2009 has undoubt- advantages with the solid edly been difficult. support of Crédit Agricole. The year 2010 may 3 Raporti Vjetor 2009 Emporiki Bank 10 years of success in Albania Emporiki Bank – Albania Nowadays Emporiki Bank of Albania has extended started its journey in Albania its network all over the country, counting today 20 branches and 3 Office Desks. This expansion started in the year 1999. in 2004 and boosted in 2006 covering 90% of Al- bania’s territory. Main Branch as well as the other EBA was one of the first private banks Branches is specifically designed to meet the needs which started to operate in Albania. of targeted clientele by providing a dedicated sup- At the time, the situation of the Alba- port and more comfortable atmosphere. The number nian financial market was very poor of customers has grown year after year reaching ac- considering the financial catastrophe tually the 25 thousand. Business clients are support- caused by the pyramidal schemes that ed by personal Relationship employees that serve happened in 1997. EBA contributed as a dedicated point of contact which are available in stabilizing the troubled market and to provide prompt attention and excellent customer also to introduce Albania in the new service. The total number of personnel now days era of international finances. have reached 236 people and is expected to grow in the coming years. Based on our rich company tradi- During the ’90 Emporiki Bank has tion and inheritance, we work systematically for the started its penetration on the Balkans. Bank’s dynamic and sustainable development. The subsidiary in Albania was opened on 1999 and the name at that time Emporiki Bank of Albania has huge potential in de- was Commercial Bank of Greece. On veloping certain aspects that the public perceives as November 2003 the name changed its values: Personnel, reputation, competency, ac- in Emporiki Bank –Albania along with curacy and transparency. Tapping on the advantage the logo. The first branch that Empo- of our company values and the quality of our work- riki Bank has opened in Albania, on 1 force, we form a powerful team and work methodi- November 1999, is the Main Branch cally for the Bank’s development. located in Rr. Kavajes, Tirana, Albania. The total number of personnel during Actually Emporiki Bank Albania is in the process of that period was 15. changing for the future. We have reorganized the 4 Annual Report 2009 whole structure in order to cover particular needs of a modern bank and constantly work for the continuous reinforcement of the position in the market.
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