Výroční zpráva\Annual Report - CETELEM ČR, as

The Board of Director’s report
The company’s expected development
For 2007 an increase in GDP of 5.3% is predicted and it is expected
that households will try to accelerate their investments
in housing and in repair and refurbishment of flats before the
end of 2007 in response to the increase in the rate of VAT on
housing construction from 2008. An environment characterised
by low interest rates, decreasing unemployment, and stable
economic prospects, is expected to continue to motivate households
to consumption rather than savings. Nominal expenditure
on household consumption is to grow from 7.0% in 2006 to
7.5% in 2007, which creates the requisite favourable environment
for providing financial services to individuals.
Cetelem’s long-term strategy, valid also in 2007, is to provide
high-quality and quick credit services affordable for the general
public. The company wants to extend its offer to include
loans to additional customer segments, new credit products,
and supplementary financial services. The company wishes
to offer its clients comprehensive financial services tailored
to their individual needs, options and customs. The company
also pays attention to extending its offer of car purchase
financing. The company wants to further enhance the broad
availability of its financial services by identifying new distribution
channels.
Cetelem’s ambition is to contribute to the development and improvement
of the non-banking credit service market, primarily by innovation
its products through an attractive offer for another customer segments
and by its proactive approach to the development of the legal
framework for business in consumer finance service provision through
its involvement in professional and special-interest associations.
Cetelem wants to be a trustworthy financial institution with a responsible
approach to financing its clients’ needs for both its clients and
trading partners.
VÝROČNÍ ZPRÁVA\ANNUAL REPORT 2006 25