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Bulgaria-based Interlease gets new name following ownership changes

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Bulgaria-based Interlease gets new name following ownership changes

Interlease EAD changed its name to UBB Interlease following KBC Group NV's acquisition of the company and United Bulgarian Bank AD from National Bank of Greece SA in June.

The company plans to triple its sale volumes and double the number of clients in the next three years, as it will strive to increase its market share from 10% to 20% by 2020 and become the leader of the Bulgarian leasing market.

UBB Interlease expects 20% of its business will come from product cross-selling projects with United Bulgarian Bank and other Bulgarian units of KBC Group, and it wants to focus on business customers, which account for about 60% of its portfolio. The leasing unit will also strengthen cooperation with DZI Insurance PLC, also controlled by KBC Group while maintaining relationships with other partners.