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Interest-free instalments prop up credit card sales
03.12.2010, 00:07 | Finance-Banks | 735 views
Schemes of purchases in instalments carrying zero interest have been driving sales of credit cards this year, despite the prolonged recession and clients' rising reluctance to lending products. Raiffeisen introduced the facility in spring and says that in May-September period sales of new cards remained flat from a year ago, with the value of approved lines of credit standing at 60m RON (around 14m euros). After the first nine months, Raiffeisen had a portfolio of 328,000 credit cards, ranking second on this segment after Turkey's Credit Europe Bank, which was the first to bring this model domestically. Read more on ZF.ro
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