Less than a year from the regulation of the mortgage credit market, i.e., practically from the moment the normative act regulating the establishment of the mortgage credit companies enforced, the first players on this market, both related to and also competing with the banking market, have already appeared.
The man who tried his luck on this market - along with other business people and companies from Cluj mainly, is none other than Iosif Pop, one of the founders of Banca Transilvania and also chairman of that bank until last year.
Subsequently, as of the end of last week, the ImoFinance group based in Cluj started conducting housing-related operations for both individuals and legal entities through its ImoCredit and ImoInvest companies. It grants short-term housing-related loans, mortgage credits, handles real estate leasing and provides consulting in this regard.
"The technical guidelines the group is using for its operations were largely devised by me and I tried to convince those that put their money into this business that the mortgage credit market really has potential. There is demand out there and it would be a pity to let the opportunity slip," Iosif Pop, chairman of ImoFinance Grup told Ziarul Financiar. Iosif Pop used to be the chairman of Banca Transilvania until last year, which he succeeded in turning from a zero market share bank into a top 15 one in nearly eight years. Pop quit his position with Banca Transilvania after its Bacau branch drew the attention of the National Anti-corruption Prosecutor's Office for having granted over 160bn ROL's worth in non-performing credits to a group of companies in that city.
ImoFinance Grup was established by 46 members (from Cluj, Bucharest, Sibiu, Timisoara, Arad, Baia Mare), i.e. 42 individuals and 4 legal entities.
The company's shareholders - that may not own more than 10% according to its operating statute, include Iosif Pop, Broker securities firm, two or three people that also hold stake in the Cluj-based Astral Group, as well as a number of individuals from Baia Mare. oana.nuta@zf.ro
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