Societe Generale group reportedly sells BRD Finance consumer finance arm in Romania
<p>BRD Finance IFN, the consumer finance arm of the BRD-SocGen group (BVB: BRD), on the Romanian market for 20 years, is reportedly in the process of selling its entire loan portfolio in Romania with EOS Group among the leading bidders, according to <a href="https://www.profit.ro/profitul-tau/servicii-financiare/brd-finance-ifn-se-afla-in-proces-de-vanzare-a-intregului-sau-portofoliu-de-credite-din-romania-conducerea-intentioneaza-sa-inceteze-activitatea-21598688?mc_cid=1d6fae9bf6&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Profit.ro</a>.&nbsp;</p>

<p>BRD-SocGen’s consumer finance arm will cease operating after the group decided to sell its private pension management arm BRD Pensii.&nbsp;</p>

<p>BRD Finance IFN was set up in April 2004.&nbsp;At the end of March 2024, its net loan portfolio was RON 173 million (EUR 35 million), less than half the RON 374 million at the end of March 2023.&nbsp;</p>

<p>Since the previous year, no more loans have been granted, and card transactions have been stopped. The company reduced and focused only on efficient portfolio management, limiting operational expenses and a gradual reduction in the cost of risk.&nbsp;</p>

<p>It was recently announced that the EOS Group, through the companies EOS Credit Funding and EOS Finance IFN, intends to take over a portfolio of performing and non-performing loans from BRD Finance IFN.&nbsp;</p>

<p>BRD Finance IFN has loans for the purchase of goods, credit cards, car loans, and personal needs in its portfolio.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com/" rel="noopener" target="_blank">Alekleks/Dreamstime.com</a>)</em></p>