Slovak lender Všeobecná úverová banka a.s. plans to merge units VÚB Factoring and Consumer Finance Holding into its structures from January 2018, Sme reported Nov. 24 after news agency SITA.
The lender hopes that the merger will simplify and streamline processes, while improving services for clients and creating new opportunities that will help its business development.
Quatro, which is a consumer lending brand operating under Consumer Finance Holding, will continue to exist on the market as a separate division of the bank, the news report said, citing VÚB's head Alexander Resch.
VÚB is a unit of Intesa Sanpaolo SpA.
