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Provident Financial says 2013 pre-tax profit in Czech Republic, Slovakia rises 20%.

February 27, 2014

Provident Financial, which specialises in the provision of short-term cash loans to households, reported a pre-tax profit from its operations in the Czech Republic and Slovakia of GBP 32.5mn (EUR 39.6mn) in 2013, up by 20% y/y, CTK newswire reported citing a company statement.

The volume of granted loans grew 11% to GPB 230mn last year, while the number of clients fell by 2,000 to 381,000.

Provident Financial is the biggest provider of short-term cash loans to Czech households. It has a staff of 650 employees and 3,300 sales representatives. Provident Financial, part of international financial group International Personal Finance, operates also in Hungary, Poland, Romania and Mexico. Last year it also entered the Bulgarian and Lithuanian markets.

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Source: IntelliNews - Weekly Reports

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