The merger of UniCredit Leasing and HVB Hebros Leasing, the leasing subsidiaries of UniCredit Group in Bulgaria, has been completed after all approvals and registrations required by law were received.

The new company is named UniCredit Leasing, a February 19 media statement said.

The joint product portfolio of the new UniCredit Leasing includes leasing of cars, equipment and real estate as well as insurance brokerage and fleet management.

“The new company will benefit clients with the unique co-operation and cross selling with the branch network of UniCredit Group banks in Bulgaria – Bulbank, HVB Bank Biochim and Hebros Bank, which will merge into UniCredit Bubank later this year,” the statement said.

It said that the wide product portfolio of UniCredit Leasing was also available to clients not only through the offices of the company, but also though vendors and partner companies such as leading car import companies and equipment companies.

Ernst Machart is CEO of the new UniCredit Leasing. He held this position in HVB Hebros Leasing.

The management board includes Stanislav Tanushev as deputy CEO of UniCredit Leasing. Tanushev is also co-chairman of the Bulgarian Leasing Association. Plamen Minev is chief sales officer of the new UniCredit Leasing and Metodi Tachev becomes chief financial officer. Both are also members of the management board.