BCR Leasing, the leasing division of the BCR group, hasbudgeted an eight-fold increase in the volume of funding granted,after in 2010 its turnover fell 87% to just 18 million euros, saysBogdan Speteanu, general manager of the company.
"Last year was not the best as far as the volume of funding grantedis concerned because we focused on streamlining the existingportfolio. But now we are going full speed ahead and want toincrease the value of funding eight times," said Speteanu.
BCR Leasing was the second-biggest player on the financial leasingmarket at the end of 2009, with 138 million euros in funding, butit is not clear what position it is currently holding after lastyear's decline, considering that only a few players have so farpublished their results.
The leasing market was significantly hurt by the economic crisis inthe last two years and fell by 70% in 2009 and by nearly 30% lastyear, when the overall volume of funding was around 1 billioneuros, compared with peaks of nearly 5 billion euros in 2007 and2008.
Players on the market say the first signs of a rebound have alreadyemerged and that, depending on the general progression of theeconomy, there could be a double-digit increase in funding in 2011.Speteanu expects an around 10% aggregate increase of the financialleasing market this year.
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