Cetelem Bank to increase its credit portfolio

APA - Austria Presse Agentur
29-06-2005, 20:09

Warsaw (Puls Biznesu) – Cetelem Bank, belonging to BNP Paribas, intends to buy back the credit portfolios it has managed from some of the banks it cooperated with as a financial agent. The company, which has been operating on the Polish market since 1998, transformed into bank in January.

Warsaw (Puls Biznesu) – Cetelem Bank, belonging to BNP Paribas, intends to buy back the credit portfolios it has managed from some of the banks it cooperated with as a financial agent. The company, which has been operating on the Polish market since 1998, transformed into bank in January. The Cetelem’s deputy president, Gilles Marion, said that they are close to reach an agreement concerning the shift of credits to Cetelem with one of the banks. According to Puls Biznesu, it is most probably Kredyt Bank that is ready to sign an agreement.

Cetelem, which manages credits worth about PLN 130 million (EUR 32 million), wants its credit portfolio to grow by 30-40 % a year. The bank’s development will be based on the credit card. The previous Aura card, now issued along with Master Card, will be accepted in 88,000 outlets and 7,000 cash dispenses. However; cards will still be given in cooperation with network stores selling white goods, RTV and other products. Moreover the card will be combined with a wide range of new credit products. Cetelem’s management informed that the bank’s operation on the credit market, its sole activity, has already started to bring profit.

PLN 1 = EUR 0.246

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Podpis: APA - Austria Presse Agentur

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