Raiffeisen Leasing, 20m euro contracts in six months

Raiffeisen Leasing, Raiffeisen Bank’s leasing arm, estimates to have concluded about 20 million euro contracts during the first six months of the year.

“At the moment, vehicles account for the largest share in our total contracts, that is approximately 60% of the volume financed this year. I have no idea how big our market share is, because we are not a member of the Association of Leasing Companies in Romania (ASLR),” Dan Danaila, senior manager of the company’s sales and marketing division, stated.

Now in its second year in business, Raiffeisen Leasing has expanded by opening 10 more offices spread throughout the bank’s network.

“From where we stand, we focused on internal organisation during our first year in business. We began working with major players, especially on the car market in 2003. We are trying to attain a synergy between the bank’s and company’s products,” Danaila said.

He added retail would account for an increasingly higher share in the leasing companies’ contracts.

The Romanian leasing market, i.e. the total value of the contracts concluded, was estimated at 900 million euros last year, according to the National Union of Leasing Companies in Romania (UNSRL). Vehicle leasing accounted for the highest share in the total, nearly 75%. Industrial leasing had come to account for 10.6% of the leasing market, with the real estate leasing attaining less than 1% in market share.

Analysts estimate the leasing market might reach 1.5bn euros this year. Raiffeisen Leasing’s official is more reserved in his forecasts, though, anticipating about 20% growth.

claudia.covaci@zf.ro