Consumer credit market to grow by 5 percent this year, says Cetelem GM

The credit consumer market in Romania was up 10 percent to EUR 469 million last year, representing the volume of new issued credit, according to data from the Financial Companies Association – ALB Romania.

Gilles Zeitoun, general manager of Cetelem IFN, the credit consumer firm part of BNP Paribas Personal Finance, estimates the credit consumer market will grow by 5 percent this year.

“This growth is impacted by the new credit regulation imposed by the National Bank of Romania, especially by the lowering of payment terms on consumer credit to five years,” Zeitoun told BR.

Cetelem is the leading credit consumer firm in Romania reporting a 24 percent increase in credit volume last year. For this year, the company aims a further growth of 15-20 percent,  acording to Zeitoun.

Ovidiu Posirca

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