Piraeus Leasing, 90m-euro financing contracts in H1

Piraeus Leasing signed contracts worth 90m euros in the first half of this year, up 150% against the corresponding period of 2006. The number of contracts signed by the company in the first half of the year amounted to 1,850. “Growth was driven by factors such as rising productivity per employee, the expansion of the branch network (…), collaboration involving cross-selling with the 70 branches of the Piraeus Bank network and the ongoing development of products for real estate leasing,” explained company representatives. On the real estate leasing segment, the company signed contracts worth 10m euros in H1 and by the yearend expects its turnover on this segment to reach 30m euros. Financing for cars and light commercial vehicles accounts for 40% of the overall contracts sealed by Piraeus Leasing, financing for commercial vehicles 22% and financing for commercial and constructions equipment 21.5%. “I believe the rapid expansion of Piraeus Leasing will continue and the value of the company’s leasing contracts will exceed 200m euros at the end of this year,” stated Anca Petcu, deputy general manager with Piraeus Leasing.