Twice more contracts for BCR Leasing

BCR Leasing, Banca Comerciala Romana (Romanian Commercial Bank- BCR)’s leasing company, concluded about 14 million euros’ worth in contracts in Q1, almost twice more than in the same time last year. The number of contracts the company concluded since establishment in 2001 has reached 10,000. It closed 1,175 contracts in Q1. BCR Leasing’s financing was still primarily directed at cars and utility vehicles, which account for 95% of its total contracts. The remaining 5% were directed to contracts for tools and equipment. BCR Leasing last year concluded 87 million euros in contracts, up more than 57% from 2002. The company made over 100bn ROL (2.6 million euro) profit in 2003, while the turnover amounted to 1,645.4bn ROL (43 million euros). BCR Leasing pursues a 15% higher turnover for this year, which should take it to at least 10% of the leasing market. BCR Leasing’s business plan for 2005-2007 includes a 10% annual growth of the core business and attaining a 30% market share. ZF