The shareholders of OTP Leasing Romania approved a capital increase of RON 5.5 million
Bucharest, November 26th, 2018 - The shareholders of OTP Leasing Romania, OTP Bank Romania and Merkantil Bank Hungary, approved a capital increase of RON 5.52 million. The capital increase was made through additional cash contribution, fully paid in RON in the company's main account opened with OTP Bank Romania.
The shareholders contributed to the capital increase, considering the own participation in the share capital, as follows: OTP Bank Romania S.A contributed with RON 3.312 million and Merkantil Bank Zrt with RON 2.208 million. This step consolidates the commitment of both shareholders to support OTP Leasing's long-term development and confidence in the team's ability to meet strategic objectives.
The company registered steady growth over the past two years. The current portfolio of OTP Leasing Romania values approximately RON 233 million, and according to internal estimates it will increase to RON 280 million by the end of 2018. Regarding the new leasing entries, OTP Leasing registered in the first 9 months of the year an increase of 91% (RON 146 million), compared to the same period of 2017.
"The robust results of the past two years reflect the team performance, investments in product portfolio development, digitization and the upward dynamics of the leasing sector. Growth is supported by new leasing products, customization for clients and reliable partnerships. On a medium-term, we aim to achieve the objective to be among the top 10 local leasing companies," said Toni Ioan Tataru, CEO of OTP Leasing Romania.
OTP Leasing was established in 2007 and is part of OTP Bank, the majority shareholders being OTP Bank Romania and Merkantil Bank Hungary (part of Merkantil Hungary). OTP Leasing Romania offers to legal entities a wide range of financial leasing products for acquisition of cars, commercial vehicles and equipment. The company has branches in Bucharest, Iasi, Brasov, Timisoara and Cluj. OTP Leasing cooperates with companies throughout Romania.
OTP Bank Romania, subsidiary of OTP Bank, the largest independent banking group in Central and Eastern Europe, is an integrated and self-funded provider of financial services. With an approach based on responsibility, commitment and professionalism, OTP Bank Romania understands its clients' needs and the current market context, being a reliable partner in the area of financial services.
OTP Group offers high quality universal financial services to almost 15 million clients in nine countries through its network of roughly 1,400 branches, ATMs and cutting-edge electronic channels. OTP Bank Plc. is the largest financial service provider in Hungary and an important player in the Central and Eastern European market.