500m euros for bank leasing

Members of the Bank Leasing Association (ALB) estimate the value of this year’s contracts at 500 million euros, nearly double last year’s figure of 286 million euros. This accounts for approximately 80% of the total goods funded by banking subsidiaries. ALB is made up of eight leasing companies affiliated to banking groups active on the Romanian market: Alpha Leasing, BRD Sogelease, Finans Leasing, HVB Leasing, Piraeus Leasing, Raiffeisen Leasing, UniCredit Leasing and Volksbank Leasing. Member companies funded purchases of goods to the tune of 378 million euros in the first nine months of the year. Of the total contracts funded by companies of the association, 27% targeted industrial equipment, 4% real estate and 69% vehicles. While, from the total equipment for the transport sector, 54% accounts for cars, 31% for heavy commercial vehicles and 15% for light commercial vehicles. ALB is not the only association of leasing companies in Romania. Another such association is the Association of Leasing Companies of Romania (ASRL), which has more than 30 members (independent companies affiliated to banks, importers and vehicle dealers) and concluded nearly 600 million euro in contracts in the first eight months of the year. ZF