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Hypo Alpe-Adria to turn Budapest office into subsidiary to back expansion

Austria's Hypo Alpe-Adria-Leasing Holding, the leader on Hungary's market for boat and aircraft leases, plans to convert its Budapest office into a wholly-owned subsidiary, president Josef Kircher said in Vienna on Monday, the Austrian press agency APA reported.

The conversion is intended to boost the company's market presence. The Budapest office currently employs 18 people, but, as a result of the conversion, more offices will be opened in the cities of Szeged, Debrecen and Győr next year, Kircher said.
Hypo Alpe-Adria-Leasing expects to finance €25 million worth of leasing contracts this year and aims to quadruple this amount next year. It plans to retain its leading position on the boat and aircraft leasing market, while increasing its presence on the real estate leasing market, Kircher said.
On the property market, Hypo Alpe-Adria-Leasing mainly finances corporate purchases or big purchases by wealthy individuals. Hypo Alpe-Adria-Leasing's parent is leader on the leasing markets in Croatia, Slovenia and Bosnia.