The merger of the leasing company OP Finance with the bank has been completed

[01.11.2021]

OP Corporate Bank has completed merging its secondary leasing company AB OP Finance with the bank and updated its organisational structure. From now on leasing, operating leasing and equipment purchase services will be provided to businesses by the bank.

"We reorganized the organisational structure in a few months – I am grateful to the team for their focus and the achieved result. I would also like to thank our leasing clients for their benevolence in this stage of the transition, in which they inevitably have to participate and who will still need to change the registration certificates of the vehicles they manage,” said Erika Voverė, Head of OP Corporate Bank plc Lithuania Branch.

All clients of the leasing company are automatically transferred to the bank from 31 October – no need to sign new agreements and the terms thereof remain unchanged. All the employees of OP Finance have transferred to work in the bank.

In the nearest future, we will inform customers personally how to change the vehicle registration certificate at SE Regitra free of charge.

Having taken over the assets and liabilities of OP Finance, the Lithuanian branch of OP Corporate Bank has become one of the largest participants in the leasing market. On September 30 of this year, OP Finance's leasing portfolio in Lithuania amounted to EUR 451 million. The company leased more than 14,000 vehicles, as well as agricultural machinery and equipment, which are further administered by the OP Corporate Bank Lithuania Branch.

The restructuring has been carried out in all Baltic countries. OP Finance SIA operating in Latvia was merged with OP Corporate Bank Latvian branch and OP Finance AS in Estonia with the Estonian branch of the bank.

Please read the detailed answers to the most frequently asked questions about the completed restructuring here.

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