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Oct 03, 2007 17:00 EEST
SOFIA (Bulgaria), October 3 (SeeNews) – Bulgaria's largest consumer finance company, JetFinance International, on Wednesday reported a net profit of 7.692 million levs ($5.6 million/3.9 million euro) for the first half of 2007, up 45% on the year.
JetFinance extended 131.7 million levs in consumer loans through June, up 81.3% year-on-year, the company said in a statement. Its assets totalled 226.7 million levs at end-June, up 132% on the year.
Global rating agency Standard & Poor's assigned its 'B+/B' long- and short-term counterparty credit ratings to JetFinance in August, following the announcement that Cetelem, the consumer credit unit of top French bank BNP Paribas, agreed to acquire 100% of JetFinance. The deal, which is subject to regulatory approval, is expected to be finalised in the fourth quarter of 2007.
JetFinance is a specialist in consumer credit with 800 employees. It operates in over 150 towns across Bulgaria with some 3,600 outlets and an own branch network serving 500,000 clients.
JetFinance raised its net profit by 72.5% to nearly 10 million levs ($7.1 million/5.1 million euro) last year. Its CEO Elvin Guri has said the company targets a net profit of 15 to 17 million levs this year.
(1 euro = 1.95583 Bulgarian levs)
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