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Hungary’s Merkantil to expand in Croatia

OTP Leasing d.d., subsidiary of the Merkantil group (founded in 2006), and OTP Banka Hvatska d.d., Croatian branch of OTP Zrt took over Z Plus Leasing from AutoZubak d.o.o.

The leasing company disposes over €14.8 million ($20.23 million) worth of assets. AutoZubak had a 6% market share in Croatia. OTP Leasing is planning to increase its local interests to 8% of the market, as the Croatian automobile-financing market is expanding dynamically: the increase between 2001 and 2004 was 46%. Penetration of leasing within all types of investing is increasing as well, from 5.1% in 2001 to 23% in 2006. (Napi Gazdaság)