New focus on leasing to professionals in Romania

The business of financing professionals is picking up in Eastern
Europe with the decision by Bucharest Stock Exchange-listed Banca
Transilvania to extend credits totaling €1bn to Romanian doctors
and dentists.

The Romanian bank’s finance arms include BT Leasing, formerly BT
Leasing Transilvania which last September was loaned €5m to finance
small and medium-sized enterprises (SMEs) across Romania.

The bank’s vice president, Ionut Patrahau, this week said the
bank aims to provide the finance over the next three years, and
hopes to gain a 40 per cent share of the marketplace. There are
around 60,000 doctors and 11,000 dentists in Romania.

Banca Transilvania’s net profits in the year to June 30 2007
totalled €23.8m, up 35 per cent year on year.