Credit Europe Leasing doubles business in 2007

Credit Europe Leasing, a member of the Turkish group Credit Europe, granted funding worth 179 million euros last year, up 85% against the previous year, with the number of contracts closed standing at almost 3,200. “The company saw a higher growth rate compared with the leasing market, due to its focus on real estate leasing and the introduction of a relatively new product on the real estate funding market- sale and lease back contracts,” say company representatives. Credit Europe Leasing’s growth rate was twice as high against the market’s rate. Last year, the growth rate on the leasing market stood at around 40%, while 9 months into the year, leasing companies saw their turnovers climb by 42%. Out of the total funding granted by Credit Europe Leasing, 40% was dedicated to vehicle acquisition, 28% to equipment acquisition and 32% to the development of real estate projects. Compared with 2006, the shares of the car and equipment sectors in the company’s business fell slightly, while funding for the real estate sector almost doubled.