The leading Estonian financial enterprise specialising in providing loans to private persons, AS Balti Investeeringute Grupp (BIG), has increased its loan turnover and client base by more than half during the first six months of this year.
During the first six months of 2005, based on audited financial results, BIG issued loans totalling 132.8 million kroons, a 54% increase compared to the same period last year. The net loan portfolio increased by 28% from the start of the year, reaching 277.5 million kroons, while the volume of issued bonds rose by 45%, reaching 173.3 million kroons.
BIG’s client base increased by over 58% compared to the first six months of last year. The enterprise’s net profit reached 28.5 million kroons in the first six months.
According to Targo Raus, Chairman of the Board of BIG, the enterprise’s loan portfolio and client base growth indicate the continuing rapid development in the Estonian loans market and a large demand for small and consumer loans adjusted to meet clients’ needs. “As the loans market is very active, more and more people fall outside the scope of attention of large universal banks – in other words, the products offered by universal banks are adjusted to the needs of those clients who provide the main market turnover. BIG’s strength is a greater degree of flexibility: our products are designed primarily for those seeking small loans, which is why we strive to be faster and easier than universal banks that generally focus on issuing larger loans. We have also paid considerable attention to the issue of making our services better available and becoming closer to the client,” said Raus.
BIG currently has 10 branches throughout Estonia. In June BIG opened new branches in Jõhvi and Viljandi, and in July in Sillamäe. A branch in Valga is set to open in the autumn.
AS Balti Investeeringute Grupp is the largest specialised lender of money to private clients in the Baltic States after banks and leasing companies. Its goal is to provide both private and business clients with fast, attentive and flexible financial services.
Additional information:
Targo Raus, Chairman of the Board
Phone: 6 309 938
targo.raus@big.ee
