Credisson, a consumer lending company, managed by Cetelem, which is controlled by French group BNP Paribas, will release personal loans worth up to 3,000 RON for a three-year period at most, according to a company release.
It will send letters to the customers that will be selected on the basis of creditworthiness and loyalty, telling them they can benefit from personal loans with a pre-approved value of 2,000 RON. If they accept the financial terms, they must fill in a statement, and the money can be picked up from the stores the company indicates. The minimum lending period is six months and it can be extended to three years, while the sum that can be borrowed ranges between 1,000 and 3,000 RON.
The loans can be used for any financial needs, with no limits being imposed by Credisson, reads the release.
Credisson specialises in the intermediation and granting of consumer loans and operates in networks distributing electronics and electrical home appliances, IT products, furniture and home decor.
The company was set up in 2003, when it was controlled by Oresa Ventures, the Swedish investment fund, and Florin Andronescu, Credisson founder and chairman, who also created Flanco electronics and electrical home appliances retailer. Credisson was taken over by Cetelem in April 2005, a unit of French group BNP Paribas, with the value of the deal put at around 40 million euros.
The Romanian consumer finance market also includes Estima Finance (Ralfi), launched by the Romanian-American Enterprise Fund and the Domo store chain, Euroline Retail Service, a company controlled by Eurobank Card (Greece) and BancPost, as well as BRD Finance.
TBIH Financial, the Dutch financial group is present on this market with TBI Credit SA. TBI Credit owns Fortuna Credit together with Primex SRL, who operates the Cosmo store network.
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