English
Provident Financial Romania reported to have over 120,000 customers at the end of June 2009, up by more than 50% from 51,000 customers in June 2008. Six months through the year, the company issued personal loans totalling over 30 million EUR, up from 13 million EUR in the corresponding period of 2008. Revenues reached 17.5 million EUR, up from only 6 million EUR in the first half of 2008.
"After having invested over 19 million EUR in expanding our operations to other cities in 2008, the first half of 2009 was dedicated to the healthy growth of our operations in the areas where we were already present. We tightened lending conditions last year and that limited our growth in terms of new customers and the value of the loans we gave," said Russell Johnsen, CEO of Provident Financial Romania.
The company invested more than 10 million EUR in infrastructure and personnel in the first six months of 2009, pushing the overall value of Provident investments in Romania to over 37 million EUR, according to the data released by the company. Provident is currently planning to achieve countrywide coverage by end-2010.
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