Latvian Rietumu Banka bought 51% of the company InCredit Group for 51 thousand lats (about 72 thousand euros). As reported on Friday IA REGNUM, the transaction was carried out in the second half of July, but the official bank announced it only now.
Work in the Latvian company InCredit Group, which will deal with consumer lending and leasing, begins in September. In the future InCredit Group plans to become one of the market leaders. Its founders - Bank Rietumu (51%), company chairman Alexander Ekimenkov (24,5%) and board member Olga Orlova (24,5%). Equity capital InCredit Group - 200 thousand lats (284 thousand euros).
«Rietumu - corporate bank, and we will continue this strategy in the future. At the same time, today we have a bank operating in Latvia, we see prospects in retail lending and leasing: the economy is emerging from crisis, consumer loans are becoming popular again, while their supply on the market is practically nonexistent. This is the best time to start a business. That is why we supported the initiative to establish a company that will specialize in precisely Retail segment. Together with InCredit Group, we intend to begin a new era - an era of responsible consumer lending ", - said vice-president Rietumu Banka Vadim Alexeev.
"This year we will focus our development in Riga, and already in 2011 InCredit Group will come to the regions. Our experience suggests that we fully able to become market leaders ", - emphasizes the chairman InCredit Group Alexander Ekimenkov. Creators InCredit Group in 1995 was based company Inserviss, sold in 2006 the French group Societe Generale.
Until the end of 2011 InCredit Group plans to attract about 10-15 thousand customers, and the gross loan portfolio is expected to be about 10-12 million lats (14-17 million euros).
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