announced that it has sold its Slovakian leasing unit to Credium, a
Czech company wholly owned by France’s SOFINCO, for an undisclosed
price.
OTP Leasing Slovakia, with a registered capital of €3 million,
was sold by OTP Bank’s wholly owned leasing unit, Merkantil Bank,
and its Slovakian banking unit, OTP Banka Slovensko.
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SOFINCO, a specialist in consumer lending, is owned by Crédit
Agricole, France’s largest bank.
As a result of a fall in demand for leasing, alongside worsening
refinancing conditions due to the credit crunch, OTP Bank said that
Merkantil Bank would focus on the Hungarian market for the time
being – postponing expansion in Russia, Ukraine and Kazakhstan.
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