The acquisition, subject to regulatory approval, marks a significant expansion of ING’s leasing activities in Hungary and forms part of ING Wholesale Banking’s strategy to increase its presence in Central & Eastern Europe. ING Lease is already represented in 6 CEE countries and expects to expand further in the near future.
Citileasing’s portfolio is mainly focussed on financial leasing. The acquisition brings the portfolio of ING Lease Hungary to €200 million, representing a market share of 8% of the equipment financial lease market and a top 10 position in the Hungarian Lease market Krzysztof Bielecki, Managing Director for ING’s General Leasing activities in Central & Eastern Europe, said: “The acquisition is an excellent fit for ING Lease in Hungary and further reinforces the expansion of our CEE network.”
Vib Verma, CEO ING Lease Hungary, said: “Through the acquisition of Citileasing we further strengthen our expertise and excellent reputation in providing a high level of service in the Hungarian truck leasing market.”
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