BNP Paribas Leasing Solutions signed a deal to take over leasing company IKB Leasing Romania, specialised in financing the agriculture sector.
The transaction which will improve BNP Paribas’s position on the leasing market, has to be approved by the regulators.
The transaction, which settles IKB Leasing exit from Romanian market will be finalized at the end of Q3.
Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised BNP Paribas Leasing in the acquisition.
”The new aquisition allows us to consolidate the team in Romania to support our clients and partners. Romanian leasing market reached a 20 percent growth in 2016, with close to EUR 2 billion in financing”, says Charlotte Dennery, CEO al BNP Paribas Leasing Solutions.
BNP Paribas is active on local market since 2007 with a Corporate&Institutional Banking division. At the begining of the year BNP Paribas merged with Cetelem the most important non-banking financial institution on the market.
IKB Leasing entered Romanian market in 2007, as well, and, last year, reported total revenues of RON 13,22 million and a net profit dropping by 11,7 percent to RON 1,3 million.