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OTP-SCD Leasing stock of leases reaches Ft 3.6 bln

OTP Bank Rt's leasing unit, OTP-SCD Leasing Rt, has signed contracts worth Ft 3.6 billion during the first four months of its operation, including retail contracts worth Ft 1.1 billion, OTP-SCD announced on Monday.  

The company's home leases, which require no down payment, have attracted a new type of clientele, that of young people with ample income but no savings living in rented flats, CEO Mária Dunavölgyi said. Most of the home lease contracts have been signed for a 20-year period to lease a two-room, 50-60 sqm flat worth Ft 16 million-Ft 20 million. Most clients have chosen to pay the lease denominated in Swiss francs.

 

OTP Bank holds 75% of OTP-SCD Leasing's registered capital of Ft 280 million, and the SCD group owns 25%. Since the company entered the home leasing market in November 2005, CIB Bank and HVB Bank have also started offering similar constructions.