Provident Financial Romania has been licensed by the National Bank of Romania (BNR) and was subsequently registered in the General Registry of Non-Banking Financial Institutions. This is the fourth company entered in the Registry under the "consumer lending" section.
"The registration in the General Registry confirms the fulfillment by Provident Financial Romania of the requirements stipulated in the legislation on non-banking financial institutions. The license coincides with the conclusion of the pilot phase started in April 2006 and the decision to expand Provident operations to national level," said Steve Rice, CEO of Provident Financial Romania.
At the end of April 2007, Provident Financial Romania reported over 13,000 customers and a network of some 350 representatives. Loans range between 400 and 2,000 RON payable over 26 to 52 weeks. Home-delivered loans are available in Bucharest and other cities in the south and center of Romania.