Aforti Finance Romania IFN S.A. obtains the license of a non-bank financial institution
Aforti Finance is a company providing loans to micro, small and medium-sized enterprises. This year Aforti Finance obtained a non-banking financial institution’s license issued by the National Bank of Romania, which entitles to offer financial services in romanian market.
Romania is the first of seven foreign markets, on which the financial partner of SME sector will provide loan services planned for the coming years –
As part of an extensive international expansion, Aforti Finance intends to reach with its offer such countries as: the Czech Republic, Hungary, Croatia, Serbia, Bosnia and Herzegovina, Albania and Macedonia, following the Aforti Exchange – an online currency exchange platform for companies, which is also managed by the AFORTI Group.
We started the development on foreign markets from the Aforti Exchange expansion, because it involves much lower entry thresholds than in case of companies providing financial services, where it’s necessary to build scoring models. However, this does not change the fact that we will implement our activities on the international stage consistently, in accordance with development strategy of AFORTI Group for 2018-2020, by widening the offer for entrepreneurs in the field of currency exchange and loans – says Klaudiusz Sytek, the CEO of Aforti Holding.
Paving the way by one of the companies belonging to the AFORTI Group will allow not only for secure and efficient implementation of new services from a legal and operational perspective, but also will significantly minimize the business and financial risks associated with launching new businesses on foreign markets. Such a strategy provides the Aforti Group with the synergy effect between companies operating on the international stage.
Romanian market is not accidental as a place for the implementation of new business projects of Aforti Finance and Aforti Exchange. This was a well thought decision resulting from the economic position of Romania in Europe. Despite appearances – Romania is one of the largest and most dynamically developing economies on the Old Continent, which is why we are present in this part of Europe.
In 2017, the nominal GDP of Romania amounted to USD 206.9 billion, and GDP per capita reached USD 10.56k. According to the estimates of the European Commission, the real GDP of Romania have increased by 6.7 %. in 2017 versus 4.9% a year earlier. At the time the most important sectors responsible for Romania’s GDP were the services and industry sectors, which have generated approx. 64 % of GDP and 33 % GDP.
The European Commission and the World Bank estimate that the Romanian economy will continue to grow, under the assumption that the growth rate is going to fall to 4.5%. in 2018 and 4 percent. in 2019. According to the forecasts of the International Monetary Fund, Romania’s economic growth will reach even 5 percent this year. The most optimistic estimates indicated by the Romanian National Commission for Forecasts shows that in the medium-term perspective for 2018-2021, in 2018 Romania will achieve GDP growth reaching even 6.1 percent.
Undoubtedly, Romania will remain the leader of economic growth in Europe, hence – similarly to other companies of Western Europe – we have been actively working on the entrence to this dynamically growing, although still very young, market.
The advantage of this market is the lower entry barriers and enormous potential of domestic entrepreneurs who, following the development of the national economy, activate their own business activities, looking for fast and attractive sources of financing.
Thus, the entry of Aforti Finance into this market should bring tangible results in the following years, in the form of positive financial results, as well as the growing recognition followed by strong position of Aforti Finance on foreign markets – adds Klaudiusz Sytek.
Moreover, further dynamic development of Aforti Finance on domestic market provides for introduction of an online application service, which will be available in 2019 and further development of its own call center, launched in July 2018, which enables an efficient and functional customer service from the SME sector.
The loan services offered by Aforti Finance are addressed to entrepreneurs looking for optimal forms of financing their own business and development plans, enterprenours running a sole proprietorship or limited liability companies.