Development strategy 2011

The main objectives of the development strategy for the year 2011 are the following:
- the increase of the assets as for the previous year with at least 2%;
- the increase of the sources attracted from the banking and non banking clients with over 20%, as for the previous year;
- the increase of the placements at banking and non banking clients with 10% as for the previous year;
- the achievement of a net profit of at least millions lei 0.5;
- the increase of the share capital with at least 1.6% as for the previous year;
- classification within a high medium risk profile, established based on the risk appetite undertook by the management structure.

In order to achieve the objectives set, the CREDITCOOP Central Cooperative Bank shall focus on the following measures:

1. The further optimisation of the organisational structure of the CREDITCOOP Central Cooperative Bank, accordingly to the level of the activity performed and to the requirements of an operation under the conditions of an economic climate influenced by the effects of the current economic crisis.
2. The personnel dimensioning based on the volume and complexity of the activity performed and promotion of a salary policy based on its motivation, and in basis of the achievement of certain quantitative and qualitative indicators, established by regulations issued by the CREDITCOOP Central Cooperative Bank.
3. Improvement of the personnel structure on categories of professional preparation and providing a professional preparation accordingly to the requirements, by participation in courses organised by CREDITCOOP Central Cooperative Bank, the Romanian Banking Institute and other institutions approved by CREDITCOOP.

4. Increase of the financial resources attracted from non banking clients, from cooperative organisations from the network and from other credit institutions on convenient maturities that insure the stability of the available funds and also the forecast achievement of placements.
5. Insuring a proper correlation between the main forms of placements, following both the obtainment of good efficiencies, especially from placements in credits and the possibility of their transformation in a quite short term in liquidities ( state titles and inter-banking placements).
6. Development of the crediting activity for non banking clients and credit cooperative organisations and achievement of a level of the credits portfolio quality indicators that situates as close as possible to their average on the banking system and the one of the group where CREDITCOOP belongs.
7. Practicing active and passive interests to the banking products offered to the clients that confer attractability and interest, to be accordingly to the their evolution and level on the inter-banking market and lead to achievement of the scheduled profitability.
8. Insuring a management of the liquidity that leads to the covering of the needs of optimal liquidity and allows the performance of the receipts and expenditure operations for an activity developed in conditions of normality and protection of the clients interests.
9. Maintenance by the Central Bank in placements with high degree of the liquidity of the amount representing the mutual reserve of guarantee upon the network level plus the liquidity reserve (10 millions of lei), for the purpose to decrease the liquidity risk for unexpected situations.
10. Offering new banking products and services to clients that lead to the increase of the scheduled activity and achievement of the profitability level.
11. Insuring a proper capitalisation that covers also the additional requests of capital in compliance with the regulations en force.
12. Insuring high performance information technology that leads to the efficient processing of the banking activities developed under conditions of security and privacy and that allows the proper implementation in the units within the CREDITCOOP network, starting from January 1, 2012, of the International Financial Reporting Standards (IFRS).

13. Including in the investments programs only the objectives strictly necessary to the development in normal conditions of the economic activities.

14. Achievement of the provisions from the incomes and costs budgets for 2011 that allows the correlation between different fields and structures and the leads to obtaining the scheduled financial and profitability indicators.

15. Enhancing of the responsibility and exigency of CREDITCOOP Central Cooperative Bank, resulting from the attributions conferred by the law on the line of the coordination of the internal audit functions, compliance and risks administration.

16. Enhancing of the exigency of Central Cooperative Bank on the line of surveillance on individual basis and by indicators of banking prudence, of the affiliated cooperative banks and through inspections on the site.

17. Development of anti-fraud activity within the conformity function as main form of finding facts and acts that can generate material and image prejudices to the CREDITCOOP Central Cooperative Bank.

18. Improvement of all the activities within the internal control system of the CREDITCOOP Central Cooperative Bank and the enhancement of the liability of the persons with coordination attributions.

19. Providing the integrity of the patrimony of the CREDITCOOP Central Cooperative Bank, by dully exercise of the preventive financial control, employment in administration positions only of persons with proper preparation and reputation, who are fulfilling the legal conditions and the conditions provided by the norms issued in such purpose, discovery on time and annihilation of any acts, forms and manifestations of persons which may bring prejudices to the image of our units.

20. Insurance of buildings and of the goods of their endowment, of the cash existing in pay offices and during transport, and also the adequate organisation of the security and safety activity pursue to the legal provisions.

21. Achievement of a proper image of the CREDITCOOP Central Cooperative Bank, of the affiliated cooperative banks and of our network, by initiation of actions of advertising and publicity, on central and local level, by printing flyers, advertisement, personalised files and other publicity objects, the improvement of means of visual information at the headquarters of cooperative banks and on their working points.

22. Internal and external promotion of the image of credit cooperative organisations of CREDITCOOP network, contacts with similar institutions from other countries, by mutual documentation visits, participation in international meetings and economic missions, and also in the manifestations organised by the Romanian Association of Banks and the European Association of Cooperative Banks.

23. The compliance with the principles established by the International Cooperative Alliance, achievement of relations of collaboration and partnership with the other cooperative systems from Romania and participation in the actions organised by the International Cooperative Alliance.