Home Credit, one of the largest companies in the Czech hire-purchase market, financed purchases worth CZK 1272 billion in the first quarter of 2006, a decrease of 18 percent over the same period last year, a spokeswoman Andrea Dobsikova to CTK today.

Competitors do not publish their first quarter figures yet.One-off consumer and revolving loans are the largest contributor to the Home Loan agreement for 1181 CZK billion, up nearly seven percent in the year.

Decrease in overall turnover caused by a decrease in loans to money, which reaches 90 million CZK in the first three months of this year. "Unlike the first quarter of last year when the company offered loans at great rates, housing credit products will focus on an entirely new launch at the end of the first half of 2006," said Dobsikova.

Unlike in 2004 and 2005 as consumers took advantage of the sales, especially in January and early February, the people who used to lease a higher level as well in February and March this year. In March alone, The house was given a one-time credit consumer loans worth nearly CZK 218 million, a year-on-year increase of nearly 37 percent.

"The higher demand for consumer credit in March also caused the price decline in the TV and set-top box after the Olympics, the customer is motivated to buy a vision for the two other top events sports period - the ice-hockey world championship in Latvia and football championships in Germany," Home Credit director Milos Stibor commented on the figures in March.

Electronics and home appliances contribute 40 percent of the credit agreement, a decrease from 47 percent last year. The number of loans to consumers in the IT segment rose by 40 percent, while contracts to buy mobile phones dipped by six percent compared to first quarter 2005.

Home Credit also operates in Slovakia, Russia and Kazakhstan. The Company is a unit of PPF, one of the largest Czech investors with financial assets worth 250 billion CZK.