Banks, Estonia, Financial Services

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 11:52

Estonia's Inbank acquires 100% ownership in subsidiary Inbank Liising AS

BC, Tallinn, 22.01.2019.Print version
On Tuesday, an agreement entered into force under which Inbank AS purchased from Fairown Finance OU a 20 % holding in the leasing subsidiary Inbank Liising AS and became the sole holder of the company, informed LETA/BNS.

Jan Andresoo, chairman of the management board of Inbank, said the main goal of the transaction was to improve the focus of Inbank Liising and standardize 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," Andresoo said.


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 size of the loan portfolio of Inbank Liising was 1.9 mln euros and the company earned 70,000 euros of profit. 


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.






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