The job advertisement can be accessed here:

Client service assistant (Finnish-speaking)
Client service assistant (Swedish-speaking)

For further information call +372 644 0467.

The euro was adopted according to the “big bang” scenario, which means that account money was exchanged into euros on the €-day at the exchange rate, which was confirmed by the respective decision of the EU Council in July 13 (the exchange rate is 1 euro = 15.6466 kroons).

Since the €-day there will be a two-week period of dual circulation when both the kroon and the euro will remain equal legal tender. Shops will accept kroons and euros, but change will generally be returned in euros.

The Estonian Central Bank, however, will exchanges kroons for euros for an unlimited time period.

Many believe that the single currency will provide a stable framework for the Estonian economy, which will create the basis for economic prosperity. With a changeover to euro Estonia hopes to give confidence to investors to invest in Estonia by removing any fears of devaluation and make borrowing more secure for its people.

More information is available on the website: http://euro.eesti.ee

SMS Laen AS was ranked second among financial services companies in the Competitiveness Ranking prepared by the Estonian Chamber of Commerce and Industry and the Estonian Confederation of Employers. If Eesti Kindlustus AS was ranked first. SMS was ranked 4th among small and medium-size companies and 54th in the overall list.

“We are pleased to be recognised as a strong and competitive company for the second year running,” said Director of SMS Laen AS Aaro Sosaar. “This excellent achievement is the result of great teamwork and the right decisions we made to adapt to the changed economic situation.”

A total of 342 Estonian enterprises were included in Competitiveness Ranking 2010 and, based on the methodology used, 325 of them qualified for the final list.

The Competitiveness Ranking is prepared to identify the most competitive enterprises, give enterprises the opportunity to compare themselves with other similar companies and evaluate the success, effectiveness and sustainability of Estonian businesses. There are three versions of the Competitiveness Ranking: the overall list, the list of small and medium-size companies and the list that is based on areas of activity in 12 categories.

Creditstar Group AS, the parent company of SMS Laen AS, currently operates in two countries – Estonia and Finland. The company employs 21 people and has almost 80,000 clients.

More information is available on the website: http://www.konkurents.ee

Now in its fourth successful year, the European Business Awards has identified some of Europe’s brightest businesses based on their ability to demonstrate the three core principles at the heart of the Awards programme. The esteemed panel of judges were looking for organisations to represent Estonia who exhibited innovation, business excellence and sustainability.

Aaro Sosaar, CEO of Creditstar Group says, “At Creditstar Group we’re absolutely thrilled that SMS Laen was selected to represent Estonia. We’ve been operating for nearly four years in the financial sector and it’s an honour to be recognised as one of the leading organisations in Estonia and in our field. To be identified as one of Europe’s most dynamic companies is particularly important now, as we are entering new markets in Europe with our newly launched Creditstar brand.”

The European Business Awards is dedicated to raising the visibility and progress of companies who excel in delivering innovation twinned with successful commercial results whilst acting responsibly and positively affecting the social environment they operate in. In 2009, the 99 Ruban d’Honneur recipients had a combined turnover greater than €570 billion and recorded an average annual profit growth of 56%.

Adrian Tripp, CEO of the European Business Awards says, “Over the past 4 years we’ve received an incredibly high standard of entries from organisations who are passionate about their business. However, very few get the chance to fly the flag for their country and compete across Europe to be recognised as one of the EU’s leading companies. It really is an exceptional accolade to be picked as a Country Representative, and together with HSBC we’re looking forward to seeing Estonia in the next round.”

Alan Keir, HSBC Group General Manager and Global Co-Head Commercial Banking, comments, “As we start to turn the corner from what has been an unprecedented chapter for businesses, we believe it is essential that we both acknowledge and celebrate the ingenuity that has enabled many companies to survive and often thrive across Europe during this time.”

Creditstar Group AS, the parent company of SMS Laen AS, is now present in two countries, in Estonia and Finland. The Group employs 21 people who service over 75 thousand customers.

Aaro Sosaar, CEO of Creditstar Group says, “At Creditstar Group we’re glad to be one of the first companies in the Baltic States to have successfully completed a bonds issue and attracted new capital for international expansion, in the light of difficult macroeconomic development in the Baltic’s.”

Current bond issue is in line with the group’s strategy to expand to a total of five new markets in Europe by 2011.

Creditstar Group is now present in two countries in Estonia and Finland. The Group employs 21 people who service over 75 thousand customers. More information about the Group is available on the website: www.creditstargroup.com

Redgate Capital is a new asset management and investment banking services group, established with a clear focus on Baltic, Russian and CIS countries. More information about Redgate Capital is available on the website: www.redgatecapital.eu

This launch represents an important step forward for Creditstar Group – a newly streamlined group of the Estonian market leader SMS Laen – and the development of its international expansion strategy. The start of Creditstar’s activities in Finland, a country that offers the group considerable growth potential, marks the Group’s first steps into the Nordic region.

Commenting on the launch, the Group’s CEO Aaro Sosaar said: “Today, Creditstar has made a first step into international expansion. We are committed to a project that will transform the Finnish credit market, and which will in turn make customers enjoy a responsible and diversified offering of loan products, high level of customer service and easy-to-use technological platform. Our commitment to Finland is also enjoyable thanks to the historic, cultural and economic ties that exist between Estonia and Finland.”

Despite the high number of unsecured loan providers in Finland, there is strong demand for the technologically innovative credit services that have forged the reputation of the Creditstar’s Estonian brand SMS Laen, who currently holds a strong market leader position in Estonia. To stand out from the competition, Creditstar is placing particular focus on offering customers flexibility and best in class online self-service platform.

Creditstar Group is now present in two countries in Estonia and Finland. The Group employs 21 people who service over 70 thousand customers. More information about the Group is available on the website: www.creditstargroup.com

Customers will be able to stay informed about the latest offers from Creditstar Finland on the website: www.creditstar.fi

“When summarising 2009 we can conclude that the company has maintained stable revenue growth and has remained profitable despite difficult macroeconomic developments. Our goal is to develop the company’s international expansion strategy in 2010 and 2011.“

Financial highlights

• Profit before loan impairment charges amounted to EEK 47.5m, a increase of 28 per cent compared with 2008 (EEK 37.0m).
• Net profit amounted to EEK 17.1m, a decrease of 32 per cent compared with 2008 (EEK 25.2m).
• Interest income increased 8% to EEK 97.2m in 2009, compared with EEK 90.4m in 2008.
• Interest expense on loans and issued notes amounted to EEK 14m, a increase of 80 per cent compared with 2008 (EEK 8.3m).
• Operating expenses have decreased by 62 per cent from EEK 31.8m in 2008 to EEK 19.9m in 2009.
• Wages and salaries have decreased by 16 per cent from EEK 13.2m in 2008 to EEK 11.1m in 2009.
• Loan impairment charges have increased by EEK 17.4m to a total of EEK 51m. Loan impairment charges increased by 250 per cent, from EEK 11.9m in 2008 to EEK 29.8m in 2009).

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