Provident Financial Romania H1 lending gains 12 percent to EUR 55 mln

Newsroom 30/07/2013 | 11:26

The loan book of Provident Financial Romania, a home credit provider, rose by 12 percent to EUR 54.9 million in the first half of the years against the same period of last year, while revenues added 10 percent to EUR 37.2 million.

The company, which is part of the British group International Personal Finance (IPF), has 269,000 active clients and is undergoing an expansion program.

Ivo Kalik, general director of Provident Financial Romania, said: “In the first six months we continued to expand operations and develop our staff. We have already opened ten new working points and we plan a similar development in the second half of the year, which will allow us to almost fully cover the urban population in all the counties.”

The IPF announced in the first quarter an expansion into neighboring Bulgaria, which will be sustained by Provident’s infrastructure in Romania. The company has already recruited over 20 people for the first branch in Sofia.

“We expect to issue our first loan in Bulgaria by the end of September and to reach the full potential of this market – around 100,000 active clients – in four to five years,” said Kalik.