Raiffeisen Leasing financing halve in H2, to 61m euros

Raiffeisen Leasing recorded a 28% decline in the value of goods financed, to 191 million euros according to company information, ranking eighth on this market. In 2007, the company financed goods worth 261 million euros. “This result was prompted by the progression of the Romanian economy amid a deterioration of the international economic situation, particularly in the last quarter of 2008,” said Raiffeisen Leasing officials. The company’s business fell significantly in the second half of last year, after a slight decline in the first half. The decline in the value of goods financed amounted to 4% in the first six months of 2008 compared with the same period of 2007, to 130 million euros, while in the second-half decline was of 52%, to 61 million euros. As is the case for the majority of leasing companies, the bulk of Raiffeisen’s portfolio is accounted for by financing for vehicles: 75%. Equipment leasing represents 22% of the overall portfolio, while real estate leasing accounts for 3%.