Cofidis Group announces the acquisition of Magyar Cetelem Bank in Hungary
On May 24, Cofidis Group announced that it had signed an agreement for Cofidis SA to acquire BNPP PF Group's subsidiary in Hungary. This agreement concerns the acquisition of the shares of Magyar Cetelem Bank by Cofidis SA. The acquisition is expected to be completed in Q1 2024, subject to regulatory approvals. For Cofidis Group, this acquisition offers the opportunity to further develop its activities in Hungary and, more generally, in the countries of Central Europe.
With a presence in 9 European countries, Cofidis Group has always put the satisfaction of its customers, partners and employees first, by implementing innovations that are at once digital, relational and human. In addition, Cofidis has demonstrated its expertise and forged numerous partnerships with major e-commerce and retail players in Europe.
Building on the expertise already in place in Hungary, this acquisition will enable Cofidis Group to continue investing in the Hungarian market by deploying its full range of services and products for the benefit of partners and customers, in order to become a major player in consumer credit in the country.
“I am delighted to announce today, on behalf of Cofidis Group, the signing of this agreement. This acquisition gives Cofidis a new dynamic in Hungary, as we aim to become a complete player in consumer credit on a national scale. It also strengthens Cofidis Group’s presence in Central Europe,” says Gilles Sauret, Chairman of the Management Board of Cofidis Group.