Fortis Bank enters consumer finance sector

"We are targeting our offer at people with a monthly income between EUR 250-1,250. We decided that this segment has the largest potential for development," said Alexander Paklons, Fortis Bank's deputy president. Company representatives estimate that the market it is targeting consists of at least six million people. In order to provide high quality service and to attract a significant number of new customers Fortis Bank created a new department, currently employing 70 workers, a number which is likely to grow to 400 by the end of 2010. The first product offered by the company will be credit cards, and it hopes to issue around 400,000 cards within five years, winning a 10% market share. (Puls Biznesu, p. 12)