COFIDIS Czech Republic is the Group’s first affiliate in Central Europe and operates in a crowded and highly competitive market. Its speciality is the sale of consumer loans on line exclusively and it is almost unique in offering this product in the consumer credit market.
Growth maintained despite the growing number of personal insolvency plans
In a tense social climate marked by high unemployment, Cofidis reduced the cost of risk by adapting its loan approval procedures to personal circumstances and providing tailored support for customers in difficulty.
In addition, the bank has optimised the quality of its customer relations in response to the data protection laws and the transposition of the European Consumer Credit Directive, which have changed the conditions for operators in the Czech Republic.