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AUSTRIAN HYPO GROUP ENTERS MACEDONIA


National.

The Austrian Hypo Group started providing leasing services in Macedonia, expressing clearly intention to penetrate into the banking sector of the country.

The CEOs of "Hypo Alpe-Adria-Leasing" staged before the Macedonian public an official promotion to mark the start of operations, with planned capacity of 35 million euros for 2007.

"Initially, we will embark upon activities at the leasing market, which we consider to offer enormous possibilities, and then we will look into options to open a bank", said Josef Kircher, Chairman of the Executive Board of Hypo Alpe-Adria-Leasing.

He noted that it was a usual practice for his Group to make the initial entrance by providing leasing services, and then open a bank, if the initial activity results in positive effect.

Kircher said he was convinced that the entrance of Hypo in Macedonia would pave way for attracting other foreign investors.

The members of the Executive Board of "Hypo Alpe-Adria-Leasing - Macedonia", Stefan Duller and Oliver Zintl, unveiled that the financial volume of the enterprise was set to 35 million euros, 42% of which will be allocated for vehicles leasing, and 29% for equipment, i.e. real-estate property, respectively.

In addition to Skopje, the Austrian Group plans to open branch offices in Tetovo, Kumanovo, Ohrid, Strumica and Bitola over the next two years.

Duller and Zintl presented the advantages of the services provided by "Hypo Alpe-Adria-Leasing - Macedonia", singling out the law interest rate, which will range from 8.5 to 12 percent, including margin.

MD: It seems a investment wave has really hit Macedonia!

[MakFax]

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February 27 2010:
Auxentius

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