Erste Bank Hungary has added a factoring company to its subsidiaries, following approval by financial market regulator PSzAF, the bank announced on Thursday.
The company will operate under the name of Erste Faktor Penzugyi Szolgaltato and will remain principally owned by Erste (98 per cent share) with Portfolio Kft owning the other 2pc.
The chief executive officer of Erste, Peter Kisbenedek said earlier: “ The Erste group already includes insurance, leasing, pension fund, asset management and investment services, and will soon add a real estate development company and a trade financing company.” The factoring company will round out the bank's scope of activities,
Source: Hoovers
