Thursday, 11 December, 2008
The Home Credit group, one of the largest businesses offering consumer financing on the Czech market, raised its profit by 26 percent to Kc641m in the three quarters of 2008 according to the IAS standards, the company told CTK in a press release Wednesday.
The company's assets rose by 13 percent to Kc12.5bn.
Home Credit provided its clients with loans worth Kc7.32bn in the first nine months of 2008, up 36 percent year-on-year.
The rival Cetelem lent its customers Kc9bn in total in Jan-Sept 2008, up 12 percent against 2007.
"Home Credit continued to strengthen its market share and its position of the leading consumer financing enterprise on the market in the third quarter of 2008. The growth potential of the market remains to be strong, albeit it is affected by the worsened economic outlook, which increases the importance of high quality and strict risk management," general director of the company Erich Comor has said.
Home Credit has reported strong growth in cash loans by 93 percent to Kc2.3bn in the three quarters of 2008. Credit card loans grew by 44 percent to Kc2.94bn in the same period.
The Home Credit group, active in Slovakia, Russia, Kazakhstan, Belarus, Ukraine and China, is part of company Home Credit Grand Holding, fully owned by PPF Group.
PPF deals in insurance, consumer financing and asset management.
Source: http://praguemonitor.com/
