Microfinance
22.Oct, 2010
The first microfinance operations have started in 2009 in Romania – a country with over 8 million unbanked people and where Erste Group is the market leader in banking through its local subsidiary, Banca Comerciala Romana.
Romania
good.bee Credit was set up in 2009 in partnership with the Economic Development Center (CDE) Romania. The company offers development-oriented financing products for economically active individuals and small businesses. From individual farmers to small shop-owners, customers are provided investment and working capital to sustainably develop their businesses.
Shareholder structure:
- 49 % good.bee Holding GesmbH
- 51 % Centre for Economic Development Centre
CDE (active in Microfinance in Romania since 2000) was established with support of the Soros Foundation for an Open Society.
good.bee credit’s fundamental objective is to help improve the livelihood of people by facilitating the growth and success of businesses by providing micro-loans to economically active individuals and small businesses. good.bee credit targets client groups having difficult, or no access at all to the financial products and services provided by commercial banks. The offer does not include consumer loans.
good.bee tranzactii mobile combines the advantages of mobile telephones with an easy-to-use bank account and debit card. Since 2010, this venture is owned by Banca Comerciala Romana (BCR), the largest bank in Romania and member of Erste Group. Through an independent sales network, the company offers its clients an affordable good.bee current account and debit card as an easily accessible payment platform. Customers can send and receive payments via mobile phone technology, with no need to visit a branch.
Examples of other good.bee microfinance intiatives
Together with Habitat for Humanity, Erste Bank Hungary with the support of good.bee, launched a “there is a chance” loan for low-income families in Hungary. It enables families to increase the energy efficiency of their houses and thus gradually improve their living conditions by making their houses more affordable on a longer term. These loans consist of small amounts for a target group that would normally not have access to them.
Examples of other good.bee microfinance initiatives that were launched in 2011 by the local banks of Erste Group: Erste Bank Serbia and the Serbian National Employment Agency launched a programme to support unemployed young people with capital and training to set up their own businesses. The project is called “supERSTEp” and offers loans of up to 500,000 dinars to selected candidates. Erste Bank Croatia is also supporting self-employment by providing investment loans to people and businesses who may have difficulties meeting standard requirements for obtaining loans. The Centre for Entrepreneurship is offering these customers training and mentoring since September in the area of Osijek. This part of the region of Slavonia was chosen due to the extremely high
unemployment rate.
