Provident grants home credits worth 4.7m euros

Provident Financial, the domestic unit of UK-based International Personal Finance, granted loans worth 4.7m euros in the first half of this year, with the number of customers that it served reaching 17,000. Present on the market since April 2006, the company saw its number of customers increase by over 50% to 17,000 in the first six months of this year, according to the first-half report issued by the parent company. In the first half of 2007, the value of home credits released by Provident Financial topped 4.7m euros, with the average sum granted revolving around 276.4 euros. The company registered revenues worth around 2m euros in the first half. Losses reported by the company amounted to 2.7m euros, with the company estimating that its Romanian operations would get back into the black in 2010. “Provident Financial Romania is a company with excellent outlooks and the figures registered in the first half of this year remain in line with our estimates. We also expect to witness sustained growth in the second half,” stated Stephen Rice, the company’s general manager.