Supermarket chain Coop sets up financial unit

Coop aims to offer credit card services to its customers later on through the company, called Coop Hitel. Coop Hitel was established with share capital of HUF 500m, but a decision has been made in principle to raise the amount to about HUF 1bn by year-end, Mr Muranyi said. In 3-4 years, share capital could rise over HUF 2bn and Coop Hitel could register to provide bank services, he added.

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