BCR Leasing needs to increase its turnover eight times to return to 2009 level

BCR Leasing, the leasing division of the BCR group, has budgeted an eight-fold increase in the volume of funding granted, after in 2010 its turnover fell 87% to just 18 million euros, says Bogdan Speteanu, general manager of the company.
"Last year was not the best as far as the volume of funding granted is concerned because we focused on streamlining the existing portfolio. But now we are going full speed ahead and want to increase the value of funding eight times," said Speteanu.

BCR Leasing was the second-biggest player on the financial leasing market at the end of 2009, with 138 million euros in funding, but it is not clear what position it is currently holding after last year's decline, considering that only a few players have so far published their results.
The leasing market was significantly hurt by the economic crisis in the last two years and fell by 70% in 2009 and by nearly 30% last year, when the overall volume of funding was around 1 billion euros, compared with peaks of nearly 5 billion euros in 2007 and 2008.
Players on the market say the first signs of a rebound have already emerged and that, depending on the general progression of the economy, there could be a double-digit increase in funding in 2011. Speteanu expects an around 10% aggregate increase of the financial leasing market this year.