Fortis launches credit shops in Germany

 

Jos Clijsters, CEO Fortis Retail Banking: "One of the pillars of Fortis Retail strategy is to grow our Consumer Finance Activities internationally. By the end of last year we acquired Von Essen KG Bankgesellschaft, specialised in Consumer Finance. This acquisition marked a further step towards the strengthening of our presence in Germany, by far Europe's biggest market for consumer finance with a market size of EUR 240 billion.  We plan to build on the existing Von Essen Bank business by introducing a broader range of consumer finance products, including credit cards, car financing and mortgages and by diversifying our distribution channels. The launch of the credit shops service concept today is a further step in strenghtening our market presence."

 

The Fortis credit shops, called 'credit4me' are designed to meet the needs of a broad and mainly young target group looking for a fast, easy and reliable credit.

The wide range of standardized products vary from instalment loans, personal loans and mortgage loans to individually configured credit cards and credit linked insurance.

 

The credit shops offer consumers a wealth of information on consumer finance products while qualified credit advisers assist in personal consultation. The leading principle of this service concept is the idea that obtaining a credit can be just like buying any other consumer product: easy, fast and above all reliable. The credit shops will be supported by the solid experience  of Von Essen Bank on the German market in consumer finance

 

After the launch of the first two credit shops in Duisburg and Bonn next week, the opening of 18 additional  shops are scheduled this year. In total 130 shops will be opened the coming years,  all at highly frequented locations such as shopping boulevards and malls.

Fortis Consumer Finance was structured as a separate business line within Fortis Retail Banking in April 2005, under the leadership of Marc Luet.  It brings together the consumer finance businesses in the Netherlands, Belgium and Switzerland. It has been identified as a key driver of growth and enhanced profitability and is expected to enter a number of new markets in Central, Eastern and Southern Europe, as well as consolidating its significant existing market shares in the Benelux countries. In 2005, it entered the Turkish consumer finance market owing to the acquisition of Disbank (now Fortis Turkey) and is currently leveraging its existing presence in Poland to build a consumer finance business in that fast growing market.

Fortis Consumer Finance now has 1400 employees and EUR 3.5 billion outstanding loans.

 

Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners.

With a market capitalisation of EUR 37 billion (31/05/2006), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 58,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on www.fortis.com