Provident Romania registers EUR 1.26 mln gross profit on Q3

Newsroom 27/10/2011 | 18:14

Provident Financial Romania, a consumer credit provider, reported a gross profit of EUR 1.26 million, according to IFRS standards, in the third trimester of this year. In the same period, the company increased its client base by 21 percent, and the volume of credit taken out has also increased by 17 percent, compared to the similar period of 2010.

Provident has opened four new offices in Suceava, Botosani, Alba-Iulia and Turda. The level of investments for the last five years that the company has been present in Romania totals approximately EUR 100 million. In 2010, Provident invested EUR 25 million for extending its operations in North-West Romania, including Oradea city.

The IPF Group announced for Q3 an increase of 10 percent in the customer base versus the similar period of 2010, reaching 2.3 million customers. The value of loans taken out at a group level increased by 13 percent to EUR 243 million, while the gross profit on IFRS standards was EUR 31 million