Raiffeisen Romania opens new credit line for SMEs

5. Juli 2006, 00:00

Raiffaisen Bank Romania opened a new credit line of EUR 30 million from the German bank Kreditanstalt fur...

Raiffaisen Bank Romania opened a new credit line of EUR 30 million from the German bank Kreditanstalt fur Wiederaufbau (KfW). The credits are available for local small and medium-sized enterprises (SMEs). 

This is a part of the SME support program initiated by the European Union in cooperation with KfW and the Council of Europe Development

Raiffeisen offers two types of RON credits, for medium-term investments (up to 60 months) and circulating capital credits (up to 12 months).

Through these new products, Raiffeisen wants to diversify its offer in rural areas, Alexandru Ciobanu, the banks sector director of SMEs, said.

In the meantime, Raiffeisen Housing Bank (RBL) opened on July 4 its second branch outside the capital. The new branch was opned in Cluj and the banks representatives think that the number of contracts signed with customers there will increase to 10.000 by the end of the year, from the current 7.000.

"40 per cent of our sales are in Cluj," said Kevin von Gamm, one of the RBL directors. He added that the new branch was opened maily because Cluj has a big potential for growth.

"People in Transylvania have a different mentality, they like to save more than the other Romanians," said Valentin Tarcea, director for development in the provinces of Transilvania and Banat.

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