Cetelem, the biggest consumer lending company on the market,controlled by BNP Paribas French group, budgeted a 25% increase innew funding from 2010 and particularly counts on credit cards andloans applied for online.
French Gilles Zeitoun, 41, who has run Cetelem Romania for oneyear, says new funding granted by Cetelem advanced by 29% last yearowing to credit card sales and estimates an average increase of 10%on the entire market, with a similar pace likely to be registeredthis year, as well.
"The consumer lending market started expanding again last year, butat a slow pace. In the case of Cetelem, sales of new loans toppedour initial expectations owing to card segment activity. We'llfurther bet on credit cards and on the online sale of loans sincewe saw this is a strategy starting to bear fruit," Zeitounstated.
The company last year issued 66,000 credit cards and reached aportfolio of around 300,000, with sales being spurred by the launchof a scheme of payments in fixed instalments for purchases bycredit card and by periodic promotional offers.
Cetelem has the third largest credit card portfolio among domesticfinancial institutions, after Credit Europe Bank and Raiffeisen, inline with data available on the market.
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