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Romanian Leasing Mkt Up 35.57% On Yr In 1H, To EUR2.94B

Romania’s leasing market increased 35.57% on the year by the value of assets financed in the first half of 2008, to EUR2.942 billion, the country’s two major leasing associations said in a press release Thursday.
Romanian Leasing Mkt Up 35.57% On Yr In 1H, To EUR2.94B
28 aug. 2008, 11:29, English

Leasing companies that are subsidiaries of banks financed 66% of the total, independent leasing companies financed 18% and captive companies, owned by automotive dealers o manufacturers, financed 16%, according to the Association of Financial Companies – ALB Romania and the Association of Leasing Companies in Romania (ASLR).

The two associations control 94.6% of the leasing market, with first-half financed assets worth EUR2.763 billion, while the remainder was financed by companies unaffiliated to any of the organizations.

Members of the two associations concluded about 86,000 leasing contracts in the first half of the year.

Automotive leasing continued its domination of the leasing market, accounting for 70% of leasing financing granted, or EUR1.94 billion, while industrial equipment leasing accounted for 23% (EUR629.8 million) and real estate leasing accounted for 7% (EUR189.15 million).

Financial leasing contracts accounted for 99% of all leasing contracts signed in the first six months of 2008 by members of the two associations, while operating leasing accounted for a mere 1%.

Corporate clients took 91% of all financing granted in the first half of the year, while 8% went to individual clients and 1% to the public sector.

In 2007, the domestic leasing market reached EUR4.49 billion, up more than 50% compared to 2006.