Liquidation of the Nova KBM Group leasing companies | OTP banka

To that effect, Nova KBM recapitalised both companies through a debt-to-equity swap, thereby increasing their capital. This capital increase was €46,894,000 in the case of Gorica Leasing, and €56,699,000 in the case of KBM Leasing. The conversion of their debts into equity enabled both companies to cover the losses incurred last year and the losses they expect to report for this year. Thus, the conditions have been satisfied to start the controlled liquidation of both companies on 30 December 2014, with completion scheduled for 2015.

Although the liquidation of the two leasing companies and the transfer of the leasing business to Nova KBM involved a considerable amount of work, this process was necessary as it was the key task with respect to the consolidation of the Nova KBM Group, as set out in its restructuring programme for 2014.

With this task complete, in 2015 the Nova KBM Group will focus even more on its core business, while at the same time making efforts to be actively present in the key market segments and to grow the business of its strategically important members. In addition, work will continue on the consolidation of the Nova KBM Group, and on the project aimed at improving the cost-efficiency of Nova KBM Group operations and making the Nova KBM Group´s organisational structure slimmer and more effective.