The partnership covers Austria, Bosnia&Hercegovina, Croatia, the Czech Republic, Hungary, Macedonia, Montenegro, Romania, Serbia, Slovakia and Slovenia.
The purpose of the new alliance is to endorse the growth of the business of the two groups by offering the best vendor financing solutions (a form of financing through which a company lends another company so that the later can buy the products and property of the seller) towards their partners and customers, and to ensure new growth opportunities for their own employees.
The alliance may allow the possibility of a transfer of DLL Hungary entities towards Erste Bank Hungary or an affiliated company.
The final terms of the alliance are subject to assessment and approval and are due for completion in the first half of 2018.
DLL, headquartered in The Netherlands, has assets worth EUR30 billion and provides financing solutions worldwide, for companies operating in various sectors.