Alpha Bank recruits brokers for loan distribution

Easy-Credit, a Dutch-held credit broker, will sell retail credits for Alpha Bank in the form of a partnership. A rising number of banks are in fact resorting to brokers that ensure product distribution without the operating costs involved in a standard network. However, bankers remain quite reluctant to work with brokers as quality control is harder to achieve and agents can advise customers to refinance credits at other banks whenever they choose. Brokers usually collaborate with several banks simultaneously. For instance, Easy-Credit has partnerships with another 8 banks, including BCR, Raiffeisen and BT. In addition, brokers offer an increasingly more attractive solution given that rising wages and rents are making the operation of a standard network increasingly more expensive.