EFG Eurobank established a subsidiary in Romania under the name “EFG EUROBANK LEASING S.A.”

The EFG Eurobank Ergasias Group established a subsidiary in Romania under the name “EFG EUROBANK LEASING S.A.”

The objective of EFG EUROBANK LEASING is to build on the significant prospects and opportunities for dynamic growth in all sectors of Romania’s rapidly expanding leasing market (vehicles, equipment and property).

The establishment of the new company, combined with the support to and close cooperation with the Group’s Romanian subsidiary BANCPOST, will contribute to the strengthening of the Group’s presence in the Romanian market and the development of the range of products and services offered.

The Romanian leasing market shows significant growth potential and prospects. In 2005, this market presents growth rate of 30% compared to 2004. The market’s volume (new contracts) was € 1.4 billion in 2004, of which 86% came from vehicle leasing (passenger cars, light-heavy duty vehicles), 12% from leasing of equipment and just 2% from real property leasing. In the medium term, the real estate market will be an important business challenge for leasing, together with the fast growth of the private sector.