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Millennium Bank finances Artsani Com with 15 million lei for developing the business

Millennium Bank finances Artsani Com with 15 million lei for developing the business

Millennium Bank granted 15 million lei financing to the construction and design materials distributor Artsani Com from Ploiesti, consisting in a working capital loan for developing the business.

Artsani Com was set up in 2002 as a local family business and owns a 10,000 square meters store located in Ploiesti, on Gheorghe Doja street, which provides wholesale and retail sale of materials for constructions, as well as for interior and exterior design. At the end of last year, the company had over 300 employees, reached a turnover of 28 million euros and a profit of 0.6 million euros. With only one store, Artsani Com holds approximately 30% of the construction materials sales in Prahova county, according to the company’s estimations.

Millennium Bank’s lending portfolio for companies includes short term revolving loans and working capital term loans, investment loans, overdrafts, non-cash facilities and factoring. The banks also grants loans co-guaranteed by the Guarantee Fund for Rural Loan and the National Guarantee Fund for SMEs.

Millennium Bank, part of the leading financial private group in Portugal, Millennium bcp, started its activity on the Romanian market on October 11, 2007, by simultaneously opening 39 branches in Bucharest and in other eight cities of the country. The bank addresses both individuals and companies, through an extensive range of products.

Millennium bcp is Portugal's largest private-owned bank and holds a prominent position in the financial market in Portugal – both in terms of market share and distribution network.

It is also a reference institution in Europe and Africa, through its banking operations in Poland, Mozambique, Angola, Romania and Switzerland. All these operations trade under the Millennium brand.

Founded in 1985, Millennium bcp registered, at the end of December 2013, total assets worth over EUR 82 billion. The group is included in key national and international stock market indices, in particular the Euronext PSI Financial Services, PSI-20, DJ Eurostoxx banks, Bebanks and Euronext 100, of the Lisbon, Paris, Brussels and Amsterdam Stock Exchanges.

Millennium bcp group has a network of over 1,500 units and a total of approximately 19,000 employees.

The financial group provides a wide range of products and services, namely savings, investment, mortgage loans, consumer credit, commercial banking, leasing, factoring, insurance, investment banking, private banking and asset management, serving its customers on a segmented basis. Emphasis is given to the Internet Banking service, which has been distinguished in Europe for its quality and innovation.

Millennium bcp's focus is on the creation of value in markets selected on the basis of a controlled risk profile and high growth potential, to sustain its internationally-recognized service excellence and innovation in financial products.

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