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Garantiqa surety stock climbs 14% in 2015

Garantiqa Hitelgarancia saw its surety stock rise 14% to HUF 366 billion last year, Hungaryʼs biggest guarantor said in a statement yesterday, state news agency MTI reported.

This year, the target for the increase in surety stock is 15%, CEO Éva Buza told an extraordinary meeting of shareholders.

Garantiqaʼs activities have helped companies access some HUF 440 bln in credit.

Last year, Garantiqa signed more than 27,000 surety contracts. About 80% of its clients were microbusinesses.

The state owns a little more than three-fourths of Garantiqaʼs shares, directly and indirectly. A long list of lenders own the rest.