BULBANK FINISHED ACQUISITION OF A LEASING COMPANY
Bulbank signed the contact for the purchase of 100% of the shares of UniLeasing OOD. After the needed court procedures, the entity will be renamed to UniCredit Leasing Bulgaria, fully owned by BULBANK.Priority in the activities of the new company will be the corporate clients with offers in the field of financial leasing - purchase of production equipment, transport machinery, construction and agriculture utensils. The company's plans include development of its subsidiary UniCredit Auto Leasing Bulgaria, specialized in financing the purchase of vehicles.The advantages of the new company are the easy procedure and fast response. The company will process and reply to the applications within five working days after filling all required documents. The possibility to use the broad network of BULBANK in the country for leasing services will be additional convenience for the clients.The main advantages for the clients will be the opportunity to get needed equipment with low initial investment, without collateral and re-scheduling VAT payments for the whole period plus preferential insurance conditions. Depending on the type of the equipment that the client would like to buy, the leasing period may vary from one to five years.In addition to the current team of the company, experts from BULBANK will join the new entity. Plamen Minev, currently Head of Division in BULBANK, will be Executive Director of the new company.Unileasing was established in the beginning of 2002 and for a short period succeeded to spread activities not only in petrol processing equipment, but also leasing vehicles, medical equipment, professional office and printing machinery, communications and network devices, vending-machines, and professional systems for air-conditioning.