Ecofinance continues to see growth in the second quarter of 2024

Ecofinance, that operates in Romanian and Moldovan markets under the brand CreditPrime, has seen a robust portfolio growth last quarter, compared to the same quarter last year. In Romania the portfolio increased by 32%, while in Moldova the portfolio reached 20% improvement. During this period several product upgrades have been implemented, such as adjusting payments to be equal throughout the repayment term.

Rucsandra Larisa Stanciu, the Group Chief Executive Officer of Ecofinance, notes: “The continuous growth that we see year-on-year is evidence of the customers’ need for trustworthy and convenient financial partner in our key markets. We fill this function, continue to attract new clients and in the future strive to meet the demand in more efficient ways. Our commitment to innovation and customer satisfaction remains at the forefront of our strategy, ensuring that we not only meet but exceed our clients’ expectations. By leveraging advanced technologies and maintaining a customer-centric approach, we aim to become a market leader and expand our reach to serve an even broader audience.”

Rapid growth for repeat loans in Moldova

In the second quarter, Ecofinance in Moldova experienced a substantial increase of over 44% year-on-year in the volume of issuances. The number of new loans saw a growth of approximately 21%, while loans of returning clients exhibited a significant rise of 76.3%, emphasizing customer loyalty. We see that our customers take advantage of the available amounts for the credit line, which was increased in the middle of last year from 50,000 to 70,000 MDL and later to 100,000 MDL, as the repeat loan average has grown by 36%. Additionally, a change in the number of withdrawals reached nearly +48%, reflecting a more active customer engagement with the service.

Issued volumes keep rising in Romania

Ecofinance in Romania, similarly to Moldovan market, has also seen positive changes in the second quarter of 2024 in issued volumes and the number of new loans – by more than 25% and 9% year-on-year respectively. Improvement in returning clients’ loans has been 19%, but withdrawals have grown by 8%.

An analysis of the demographic trends reveals some interesting insights – in both the Moldovan and Romanian markets, the most represented age group is 20-29 years old, followed by individuals aged 30-39. Meanwhile, there is a markedly higher proportion of male clients, exceeding the number of female clients by more than 50%.

In the future, Ecofinance plans to continue to strengthen its positions in the existing markets while also looking for expansion opportunities in new locations. To keep up with the newest announcements, follow us on social media: Facebook, LinkedIn.