3,3m-euro funding from BT Direct

BT Direct, the company within Banca Transilvania that provides financial leasing for individuals, last year granted funding worth 11.7 million RON (3.3 million euros). “The level is 28% higher than in 2005, due to the persistent growth of partner stores,” stated Gabriel Gogu, general manager of BT Direct. The profit seen by the company in 2006 stood at 2.41 million RON (720,000 euros). Last year, the non-banking financial institution signed around 6,000 funding contracts, and has a portfolio of over 20,000 contracts currently running. “We offer funding for individuals and for authorised individuals who want to purchase durable consumer goods from our partner stores,” specified Gogu. BT Direct headquarters’ are located in Cluj-Napoca, whilst local representatives are located in other areas. At present, the company has 20 permanent employees. “BT’s development strategy targets a 30% increase in the volume of funding, which will be made possible by the rise in the number of partner stores, the expansion of the product range and by the launching of more financial products,” explained Gogu.