Volume of credits granted by TBI double after 9 months

The volume of credits granted by TBI Credit, a member of the financial services group TBI, reached 90 million euros at the end of September, up 125% against the same time last year. “There were several factors that affected growth: firstly, we relied on rapid development throughout the country. Currently we have 180 lending offices in 70 cities and towns, and estimate to reach 200 by year-end. Secondly, we have made significant investments to boost our sales force, which is now both higher in quantity and quality,” said Traian Baicu, general manager. In addition, the increased volume of credits within our portfolio was a result of TBI Credit’s direct sales force. At the end of September, TBI Credit had 160,000 active clients, up 78% against the first nine months of 2006. “We predict our operations will grow by 60% in 2008, and expect to grant 150 million euros by the end of next year. Credit cards and personal loans have a huge potential (…),” said the head of TBI Credit.