Profireal growth continued in the first quarter
Pardubice, 15th May, 2007. In the first quarter of the year 2007, the financial group Profireal Group provided loans and credits at a total volume of CZK 845 million, which, compared to year 2006, represents a growth of nearly 19%. The volume of offered loans and credits represented an amount of CZK 712 million in the same period of the year 2006. Employee loans have again proved to be the best selling product, contributing 97% to the overall performance.
“We are pleased to have continued in the successful achievements of the year 2006. We only recorded a mild drop in January, but, as far as consumer loans are concerned, year starts are usually slower. We experienced an expressive surge of interest in February and March, when the seasonal clearance sales started at full speed. We are satisfied with our Bulgarian subsidiary, which has been successfully asserting itself in the marketplace”, David Chour, Chairman of the Profireal Group Board commented on the results.
The biggest volume of loans has been negotiated by Profireal in the Czech Republic. The amount of provided loans and credits in the first quarter grew by about 20%, with the overall volume of granted loans reaching CZK 469 million. In light of growth alone, an even better performance was displayed by the Slovak subsidiary of Profireal, which grew by 26% in the first quarter of the year 2007, on the whole granting loans worth CZK 221 million. Pleasant are also the records of Profireal in Poland. After the stagnation last year, production grew by almost 5% in the first quarter to reach an overall performance of CZK 152 million. In spite of the trade network not being fully developed yet, the volume of provided loans and credits in Bulgaria was doubled, compared to year 2006.
“We are planning additional expansion in the course of this year. We are preparing a rollout of a subsidiary in Romania. We want to provide the first borrowings on the Romanian market towards the end of the year 2007”, David Chour unveiled the future plans of Profireal.
The financial group Profireal Group operates in the area of granting loans and credits both to the individual and corporate sectors. It has seen a remarkable expansion over the recent five years. After the opening of its branch in Slovakia in the year 2001, there followed a launch of loan-selling activities in Poland in the year 2004 and, at the end of the year 2006, Profireal sold its first loan also in Bulgaria. The division Profidebt, which belongs in the financial group Profireal Group and deals with surrenders and administration of retail claims, is active in the Czech Republic and in Slovakia.
Since 2004, Profireal has been a member of the association SOLUS that administrates a register of debtors, through which the members may verify the creditworthiness of their loan applicants. Profireal was initiated into the Czech Leasing and Financial Association in April 2007.