Portuguese Finicredito comes onto the Romanian market

Established in 1992 in Porto, Finicredito specializing in loans, and is presently one of Portugal’s top lenders.

According to data provided by the Association for Specialized Loan Institutions (ASFAC), Finicredito reached a 5.7 percent market share in 2007, with a volume of €174 million, and assets worth €350 mln. It presently has 13 branches (12 in Portugal and 1 in Romania), partnerships with large and small networks of automobile traders, and enjoys the support of the 152 Finibanco branches in Portugal.

The Romanian leasing market is estimated to slightly exceed €5 billion in 2008, up some 25-35 percent year-on-year, based on last year’s value of €4.2 bln. Within 3-5 years, the market will begin to stabilize and growth will be more tempered, from 20 percent to 10 percent, according to representatives of the Association of Bank Leasing (ALB).