Unicredit Leasing expects market to go down this year, as well

VAT increase and the steep exchange rate volatility will lead to rising cases of instalment payment delays on the leasing market, but clients with high difficulties should not just halt payments and give the goods back, but discuss a loan restructuring solution with the leasing firm, says Andreas Obrist, the new regional head of UniCredit Leasing group. Around 90% of the company's clients are legal entities and the rest of 10% individuals. "Around 85% of those that came to us to discuss their financial woes have restructured their loans. The earlier they do this, the most efficient the restructuring solution is", Obrist says. Despite having budgeted a 20% higher volume of financed goods for this year in Romania, Obrist states he expects the leasing market to go down even below last year's level. In 2009, leasing was the hardest hit sector of the economy, with a decline of above 70%. UniCredit Leasing is currently working on a new IT system, to be then used in other countries the group is present in. The system will allow for an easier introduction of new products and clients will get an answer for their funding applications in a shorter period of time.