Leasing market heading toward 1.8bn euros

The automobile market, and more recently growing interest in industrial equipment and real estate, will push the total value of leasing contracts sealed on the Romanian market toward 1.8 billion euros at the end of this year, according to estimations by the Association of Leasing Companies in Romania- ASLR.

The figure is still far from the potential of the market, which analysts put at 4-5 billion euros.

“After the first five months of the year, we estimate the value of leasing contracts concluded on the Romanian market exceeded 600 million euros. The 33 members of the ASLR signed contracts worth more than 320 million euros,” stated Cornel Coca Constantinescu, chairman of the association.

The figure obtained by companies included in the ASLR is just 10 million euros higher than the value registered in the corresponding period of last year. Meanwhile, however, several companies affiliated to certain banking groups operating on the Romanian market, such as BRD Sogelease, Demir Romlease, Alpha Leasing and Volksbank Leasing have left the ASLR.

Automobile contracts make up the greatest proportion of the total leasing market. Within the ASLR, the total weight of the car segment is close to 93% of the total number of contracts signed during the first five months of this year.

This can be accounted for by the fact that the top three leasing companies in terms of the value of contracts sealed in the first five months of this year (Porsche Leasing Romania, Afin Romania, RCI Leasing Romania) are affiliated to car importers or dealers.

In the case of independent companies, (representing three quarters of the 33 members of the ASLR), things are different.

“After the first five months of this year, the car segment accounts for 54-57% of the total contracts concluded by TBI Leasing, the rest being represented by industrial equipment or the real estate segment,” explained Florentina Mircea, a general manager with TBI Leasing company.

In fact, industrial equipment and the real estate segment should witness the highest growth rate over the following period. “Car leasing has reached a maximum, at least as regards its weight within the total car market,” Constantinescu specified.

In the first half of this year, the automobile market advanced by over 30%, getting close to 80,000 cars. Of these, more than 31,000 were represented by imports, and almost 60% were acquired under a leasing system.

ionut.bonoiu@zf.ro