The leasing companies of Hungarian Bankholding will continue to operate under Euroleasing name
As of January 1 2022, the leasing companies of the member banks of Hungarian Bankholding, MKB-Euroleasing, Budapest Leasing, Takarék Leasing and the Car Finance Division of Budapest Bank will have an even closer cooperation. As an important milestone in the bank merger, the companies will continue to operate beneath MKB-Euroleasing Car Leasing Ltd. under a new company name, Euroleasing. Individually the leasing companies are dominant players in the market, having a significant market share of more than 20% in terms of newly leased aggregate portfolio.
As of January 1 2022, MKB-Euroleasing, Budapest Leasing, Takarék Leasing and the Car Finance Division of Budapest Bank will operate under MKB-Euroleasing Car Leasing Ltd. The company, which will be renamed Euroleasing Ltd., will operate under the Euroleasing brand name. Most of the new transactions will be concluded in the unified Euroleasing system, while the previously concluded financing contracts will continue to be managed by the companies belonging to Hungarian Bankholding.
As of the end of 2020, the four leasing companies of Hungarian Bankholding had a significant market share of over 20% in terms of newly leased aggregate portfolio. The companies together have an even higher market share of over 30% in the automotive and agricultural machinery leasing segments.
This October, as the first result of the strengthening cooperation, the leasing subsidiaries of the member banks together entered the market with Széchenyi Leasing GO! products. Furthermore, interested clientsmay indicate their needs for car leasing through certain branches of Takarékbank, as Leasing+, the car leasing scheme of MKB-Euroleasing, has also become available for them through this sales channel.
An additional advantage is that from January 2022, the full range of automotive, agricultural machinery, commercial vehicle and general machinery financing products of Euroleasing will become available in the national branch networks of Budapest Bank and MKB Bank. Through unified business solutions, administration will also become simpler and faster.
"Independently, the leasing subsidiaries of Hungarian Bankholding play a decisive role in the financing of domestic companies, and together we will appear on the market as a player that, as the engine of development, provides the most competitive service in all segments. As the results of the developments and economies of scale, our customer service will become even more efficient and faster, and our experts will work together to support our customers by developing the best financing schemes.”
Hungarian Bankholding Ltd.
Hungarian Bankholding Ltd. is a domestically owned financial holding company, which aims to implement the merger of Budapest Bank Zrt., MKB Bank Nyrt. and Takarék Group. The company commenced its effective operation on 15 December 2020, after MNB (acting as the central bank of Hungary) approved the merger of three credit institutions, and the shares of the key owners were transferred to the joint holding company. By transferring the in-kind contributions, the second largest banking group in Hungary has been established.
In March 2021, the Board of Directors and the Supervisory Board of the Hungarian Bankholding approved their five-year strategy for the merger of the member banks, based on which the fusion of the three credit institutions is planned to be concluded in 2023. The aim of the emerging large bank is to be the most modern bank in Hungary, which will introduce flexible, internationally leading digital solutions.The new large bank will serve the full market spectrum and all customer segments in the future, with a significant emphasis on the provision of new, modern range of products and services to retail, micro, small and medium-sized enterprise and agricultural customers.