Consumer lending firms have ambitious plans for 2008, still seeing potential for sustained growth, of above 50%, after having achieved turnover increases at about the same rate this year.
BRD Finance, the consumer lending arm of BRD-SocGen, has budgeted a 60% increase in financing granted for 2008 as it counts on 40% turnover growth this year. The French firm is the second biggest player on this market.
Cetelem IFN, the domestic branch of the consumer lending arm of BNP Paribas French giant and the biggest player domestically, forecasts a growth pace at least matching this year's level for 2008.
After the first 9 months, the company's turnover posted an annualised growth pace of around 50%.
Greece's EFG Retail Service, the consumer lending unit of Bancpost, also expects this year's trend to maintain in 2008.
In late September, the firm reported a 40% increase in the volume of loans, without unveiling the nominal value, though.
BRD Finance had reached a volume of granted loans worth almost 600m RON (179m euros) at the end of September.
The company ended 2006 with granted loans worth 487m RON (139m euros). Thus, a 40% lending increase in 2007 would entail a loan volume of 682m RON (193m euros) at the end of December.
The company's number of customers climbed by 100,000 people during September 2006 - September 2007 period, thus reaching 420,000 people.
Cetelem has not published its number of customers, but mentioned it had 1.3 million lending contracts under management in late September.
EFG Retail Service in September had over 450,000 customers in its portfolio, up 20% from the same period of last year.
Cetelem remains the biggest player on the consumer finance market, with a loan volume of 714m RON (213m euros) in late September, around 50% higher than last autumn.
TBI Credit, held by TBIH Israeli group, in late September reached a loan volume worth 90m euros, up 125% from the same period of 2006, on distribution network expansion to 180 offices.
The company expects the volume of granted loans to surge by 60% next year, particularly on credit cards. So far, TBI Credit has issued around 30,000 units, targeting 50,000 units for 2008.
According to its own calculations, BRD-Finance is a market leader on the segment of loan sales in stores, both in terms of value and number of contracts.
The company sells loans in over 4,000 stores countrywide.
All four players forecast a higher increase of credit card sales for next year amid market expansion.
According to the data available on the Credit Bureau's website, six consumer lending companies report information in the system, but their names are not revealed.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
