Tiriac Leasing boasts contracts worth 120m euros

Tiriac Leasing signed contracts worth 120 million euros over the first nine months of the year, up by 46% against the corresponding period in 2005, say the company’s representatives.
The company signed 4,620 funding contracts in January – September period, against only 2,281 in the corresponding period of 2005. One of the development avenues part of the company’s growth strategy is the network’s development in the country, which currently numbers 13 centres.
Tiriac Leasing plans to sign funding contracts worth 135 million euros this year, up by 20% against the 111.3 million euros posted in 2005.
The company set out to attain a rise of 35% in the volume of credits granted over the next year.
Most of the credits granted by Tiriac Leasing through financial leasing and operational leasing systems went to the purchase of car and even commercial fleet acquisition, of any brand, as well as of a wide variety of equipment.
Tiriac Leasing estimates turnover will top 140 million euros this year, an increase of almost 50% against last year, when the company derived turnover worth 95 million euros.
According to the estimates made by the Leasing and Non-banking Financial Services Association (ALB), the leasing market will reach 2.5 billion euros this year, up by 24% against 2005.
“It is difficult to estimate this market segment’s trend over the following five years. But we think the number of players will drop significantly, with most of them belonging to the major financial groups,” Tiriac Leasing representatives added.
On the leasing market, the percentage of each funding segment in the total has significantly changed this year. Therefore, the segment of credits for vehicle acquisitions accounted for 64% of the market this mid year, a smaller share than the 82% in 2005.
The leasing market will continue to depend on the automotive segment, at least on medium term, considering that “the domestic vehicle fleet is still outdated and the car ownership index is still low, compared with the countries within the European Union, while the leasing segment is mostly represented by the automotive leasing segment. It is natural for the leasing market growth to depend on the automotive market,” Tiriac Leasing representatives explained.