Provident reports EUR 4.7 mln profit in 2011 on increased lending activities

Newsroom 29/02/2012 | 16:44

Home credit provider Provident Financial Romania reported a gross profit of EUR 4.7 million in 2011 and revenues of EUR 63 million, due to improved lending activities.

The number of customers increased by 20 percent y/y to 249,000, while the volume of loans taken out also gained 17 percent y/y to EUR 101 million.

The average loan value increased to RON 1550 or EUR 350 against RON 1400 in 2010.

“It is hard to anticipate the economic context in 2012, and the impact of the euro zone crisis and Romania’s capacity to absorb external shocks are hard to predict,” says Russell Johnsen, general director of Provident Financial Romania. “We will focus on controlled growth and investments in our employees and the zones we cover,” he added.

Provident opened 11 working points last year taking the total number to 57. The lender opened units in Suceava, Botosani, Alba Iulia, Turda and other small localities, and this February, a new unit was opened in Baia Mare, Maramures County. Thus, the lender covers 85 percent of urban areas.

The lender’s number of employees increased by 15 percent to 650 at end-2011. In addition, the number of independent agents gained 22 percent to 3,474.

Provident, owned by the British group International Personal Finance (IPF), has invested over EUR 125 million in the last 5 years, and plans additional investments of EUR 30 million this year.

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Newsroom | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue