“In 2018 we continued sold growth by developing our client portfolio with micro, small and medium farmers,” said Robert Rekkers, general manager of Agricover Credit IFN.
The company granted loans of RON1.63 billion to farmers in 2018, raising its loan exposure by 30%, to RON1.3 billion.
Agricover Credit said it’s non-performing loan rate, consisting of payments overdue more than 90 days, stood at 1.26%, slightly lower than in 2017 and a comfortable level compared with the banking system average.
It kept its partnerships with local banks by extending existing credit lines and with international partners such as International Finance Corporation, European Investment Bank, European Investment Fund, Black Sea Trade and Development Bank, European Fund for Southeast Europe, International Investment Bank, and the European bank for Reconstruction and Development.
It accessed funds of RON1.38 billion in 2018, up 27% on year, while its own capital reached RON220 million, up 18%.
In 2019 Agricover Credit targets more micro and small farmer customers and the development of specialized products for these segments.