TBI Leasing profit grows nine times

TBI Leasing last year made 570,000 euro net, almost nine times higher than the year before when it was worth more than 60,000 euros. The company has doubled its share capital to $2 million in the meantime, has managed to get $17 million loans and has released a 0.65 million euro bond issue. The assets of the leasing company had come to total 17 million euros by the end of last year compared with 11.2 million euros attained eight months through 2003. The contracts concluded last year amounted to over 26 million euros. The company this way came to account 3% of the Romanian leasing market compared to the previous 2%, its general manager, Florentina Mircea, said. TBI is one of the few leasing companies focusing on funding for equipment and real estate leasing. The Romanian leasing market, estimated to $1.2bn by the end of last year sees funding for vehicles account for approximately 90% of it. ZF