EnglishThe Small- and Medium-Sized Enterprise Loan Guarantee Fund posted a significant growth in the first six months of 2007, following a strategy to consolidate market position, improve the product portfolio and increase the number of customers.
On June 30th, the company announced a half-year turnover of 8,157,241 RON, up two times year-on-year. Revenues amounted to 19.02 million RON, compared to 8.36 million RON in the first half of 2006. Expenses made in H1 totaled 7.58 million RON, up from 3.34 million RON in the year-ago period.
Gross profit totaled 11.43 million RON compared to 5.02 million RON in the first half of 2006. The net profit doubled to 9.2 million RON from 4.1 million RON on June 30th, 2006. The number of guarantee contracts increased nearly two-fold year-on-year to 1,213 contracts worth 98 million EUR for loans worth 186 million EUR. The Fund operates through 10 representative offices, 3 subsidiaries and 3 branches and the offices of 20 Romanian banks.
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