Annual Report 2008. - Hitelgarancia Zrt.

SummaryDespite the growing financial crisis, Garantiqa Creditguarantee Co. Ltd.expanded its guarantee undertakings by a significant 23%, and increased itsoverall portfolio to HUF 410.7 billion. SME guarantees consisted largely ofshort-term – Széchenyi Card and card-credit type – guarantees of less thana year’s term. The volume of municipality guarantees grew significantly.The great majority of the company’s portfolio belongsto the low-risk segment. The development of redemptions was determinedby the growth in payouts associated with large-value loans.11