Inbank AS has acquired a 100% ownership in subsidiary Inbank Liising AS
Today, on 22 January, an agreement entered into force under which Inbank AS purchased from Fairown Finance OÜ a 20% holding in Inbank Liising AS, a company which offers full service leasing, and became the sole holder of the company as a result of the transaction.
According to Jan Andresoo, Chairman of the Management Board of Inbank, the main goal of the transaction was to improve the focus of Inbank Liising and standardise the product. “We want to develop our products internationally and we found that fulfilling this goal would be easier as a sole owner,” Andresoo said.
“At the beginning of our cooperation, we agreed on a three-year partnership, and this year, the time has come to make future plans. We would like to thank Fairown Finance for their excellent cooperation in developing solutions for financing companies, and we are glad to say that our cooperation will continue in the future,” said Andresoo.
Inbank Liising was established in April 2016 with the goal of providing full service leasing for small and medium-sized enterprises which would include the lease, maintenance and insurance of equipment. “An increasing number of companies prefer to acquire necessary equipment, from computers to agricultural machines, by using full service leasing because this way, they will not have to worry about insurance or subsequent sale of the asset. Therefore, we wish to offer attractive leasing solutions that would help facilitate growth in the sector of B2B customer financing,” said Andresoo.
In 2018, the loan portfolio of Inbank Liising was 1.9 million euros and the company earned 70,000 euros of profit. More information about the products of Inbank Liising is available at the website www.inbankliising.ee.
Inbank started its banking activities in 2015 and provides its services through its internet bank and partner network. Inbank is active in the markets of Estonia, Latvia, Lithuania, and Poland. In addition, foreign deposits are gathered from Germany and Austria.