Cetelem Bank

Type
Business expansion
Country
Poland
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
200 jobs
Number of planned job creations
Job creation
Announcement Date
25 January 2006
Employment effect (start)
1 January 2005
Foreseen end date
31 December 2005

Description

In 2005, Cetelem company was converted into Cetelem Bank. Thanks to this move Cetelem is able to offer individual loans and issue credit cards without intermediation of banking institutions. The move caused increase in employment by several hundred people. Cetelem is Europe's number 1 consumer credit company. In Poland, Cetelem is the leader in the market of credit cards' distribution.

According to the information received from the company, in 2006 Cetelem Bank employs about 400 people.

Sources

Citation

Eurofound (2006), Cetelem Bank, Business expansion in Poland, factsheet number 62858, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62858.