The Cofidis Group has successfully completed the acquisition of Magyar Cetelem Bank Plc., the Hungarian subsidiary of BNP Paribas Personal Finance Group, Cofidis has announced.
According to the statement, Cofidis Group has strengthened its position in the Hungarian market and the Central European region.
Gilles Sauret, Chairman of the Board of Directors of the Cofidis Group, said in the statement that this acquisition represents a significant growth potential for Cofidis in Hungary: the acquisition of a banking license and the further expansion of the network of commercial partners.
Cofidis stressed that Cetelem's customers will not have to do anything after the change of ownership. The financial and contractual conditions for loans, bank deposits and credit cards will not change.
Under the leadership of Jean-François Remy, CEO of Cofidis Hungary, preparations for the integration of Cetelem employees and the development of the new product offering have already started, they added.
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