Agricover IFN, a local financial institution specialized in financing farmers, recorded a net profit of RON 17.8 million (EUR 3.8 million) in the first half of this year, up 57% over the same period of 2017.

The company granted new financing worth RON 524 million (EUR 113 million) to almost 3,000 farmers in the first half, and its total loan portfolio advanced by a third compared to June 2017, reaching RON 1.35 billion (EUR 290 million).

“This year, we focused on developing the small and medium farmer segment and we continued to launch new specialized products,” said Agricover IFN general manager Robert Rekkers.

Agricover IFN is part of Agricover Holding, one of the biggest Romanian groups in the local agri-business sector.

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