BUCHAREST (Romania), July 23 (SeeNews) - Provident Financial Romania, the local arm of British consumer credit firm International Personal Finance, on Wednesday reported revenues of 4.8 million British pounds ($9.6 million/6.1 million euro) in the first half of the year, more than treble increase from a year earlier.
The company extended loans worth 10.4 million pounds in the six months through June, jumping from 3.2 million in the same period last year, it said in a statement.
"Provident Financial Romania is a company with excellent perspectives; the results, reported in Romania are in line with the performances on a group level. We are expecting a sustained growth in the second half," the company's director general Stephen Rice said in the statement.
Company's clients topped 50,000 in the first semester, from 17,000 in the year-ago period.
Provident has so far invested 7.5 million pounds to develop its office network, and intends to bring their total number to 16 by the year's end from 14 now.
The company reported a loss of 5.4 million euro for 2007, its first full year of operations in Romania, due to heavy investments.
Provident Financial Romania was established in the first half of 2006. The company offers small, short-term loans, which are delivered to customers at their homes.
(1 British pound = 1.2739 euro)
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