Cetelem to become a banking subsidiary of BNP Paribas Personal Finance

Cetelem IFN SA, the leader of the Romanian IFN consumer credit market, announces the cross-border merger with BNP Paribas Personal Finance, the sole shareholder of the company, and the transformation into a branch of the latter’s – BNP Paribas Personal Finance Paris SA, Bucharest Branch. The commercial activity in Romania will continue under the Cetelem brand.

The transformation process follows a Group’s strategic decision, aimed at improving operations in the CE Europe markets: Czech Republic, Slovakia, Austria, Hungary, Romania and Bulgaria.

„Through this initiative we aim to streamline the operating model of our markets in the Region, in order to better support our business delivery, by being more flexible and efficient when it comes to offering best solutions and highly competitive services for our customers. We are convinced that the transformation of Cetelem to this new stage will have beneficial effects for both customers and the entire Romanian consumer credit market.“ stated Bruno Leroux, CEO Cetelem Romania

The transformation process will be completed on March 1st, 2018, after which the commercial activity in Romania will continue under the Cetelem brand, which is well known to the Romanian public.
Cetelem’s customers will be informed of the change in the company’s status via e-mail, letter and on the company’s website: www.cetelem.ro.

„The current operations of Cetelem Romania, as well as its product offering and contractual terms, already agreed with customers or partners, will not be affected by the merger process. Cetelem Romania will remain the same responsible partner and will maintain its primary objective of providing optimized financial solutions developed to prevent over-indebtedness, „added Bruno Leroux.

In Romania, Cetelem offers consumer credit in stores, credit cards under the Mastercard logo, car loans and personal needs loans by telephone or Internet. Cetelem has fixed-rate financial products in its offer, enabling its clients to have a clear overview of their financial situation and to be able to better manage their budget throughout the entire lending period.

About Cetelem IFN – www.cetelem.ro
Cetelem IFN SA was established in 2005 after the acquisition of Credissson International SRL by Cetelem S.A (the current BNP Paribas Personal Finance SA), the consumer credit division of the French financial BNP Paribas Group. In over 14 years of presence on the Romanian market, the company has served over 1.2 million Romanians, offering over 1.8 million loans.

About BNP Paribas Personal Finance
BNP Paribas Personal Finance SA is the leader in the consumer credit market in France and Europe through its consumer credit and real estate lending activity. 100% owned by BNP Paribas Group, BNP Paribas Personal Finance employs nearly 17,500 employees and operates in over 30 countries.

About BNP Paribas Group presence in Romania
Established in Romania in 2007, BNP Paribas is present locally with its Corporate & Institutional Banking activity (BNP Paribas SA Paris, Bucharest Branch). In Romania, the Bank offers a comprehensive package of financial services to corporations (BNP Paribas corporate customers and local businesses) and public institutions. In addition, the BNP Paribas Group is also present in Romania with other activities, through its other entities:
. Cetelem IFN SA starting 1st of March, BNP Paribas Personal Finance Paris SA, Bucharest Branch: specialised in credit solutions for individual customers
. Arval: corporate vehicle operational leasing and management solutions
. BNP Paribas Cardif: specialized insurance provider
. BNP Paribas Leasing Solutions: specialized leasing and rental solutions
. BNP Paribas Real Estate: transactions, valuation, property management, consulting