Consumer credit company TBI Credit, a part of TBIH Financial Services Group, has increased its share capital by 5.2 million RON (1.5 million euros), to 12.1 million RON. "This capital increase is the first one this year and is in line with our strategy to develop as a non-banking company," stated Florentina Mircea, chairman of the Board of Directors of TBI Leasing, and majority shareholder of TBI Credit. The increase seen at the beginning of this year will be followed by a similar one by the end of the year, whose value will top one million euros, according to the TBI Leasing official. TBI Credit announced at the end of last year the launch of a specialised consumer finance company, Fortuna Credit, in association with the electronics and home appliances retailer Cosmo. The Competition Council authorised the operation of economic concentration conducted by the two companies at the beginning of this year. According to official estimates, credits granted by Fortuna Credit this year could reach 30 million euros. Last year, TBI Credit anticipated funding standing at 25 million euros, a four-fold increase against 2004. This year''s target was a volume of contracts of 55 million euros. ZF
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