The four big leasing companies within the Association of Leasing Companies in Romania (ASLR) last year accounted for more than 30% of the over 1.4bn-euro contracts concluded on the Romanian market. This may seem much, considering there are several thousand companies that have leasing listed as core business and whose share capital is worth more than 500 million ROL on the Romanian market. "Only about 100 companies of all those registered are operational and 35 of them are ASLR members, accounting for more than 60% of the market over the last few years," Cornel Coca Constantinescu, ASLR chairman says.
The leasing contracts concluded by ASLR members amounted to nearly 675 million euros; the top performer in this regard was Porsche Leasing, the contribution of which was 18%. Porsche Leasing is held by the leading vehicle importer on the Romanian market, Porsche Romania.
Considering the second-leading leasing company was yet another entity held by vehicle importers, Afin Leasing, it comes as no surprise that cars accounted for almost 90% of the total value of the contracts closed by ASLR.
"The demand on this segment is very high. The low default rate and the relatively short term for which the automobile contracts are concluded make this segment attractive even for the banks that supply financing and can condition funding on its use for auto leasing contracts," Constantinescu added.
Things might change this year, though, as more segments of the market develop.
"From what I've seen in the first few months of this year, demand for industrial equipment has risen. Under the circumstances, the leasing market could reach 1.8bn euros this year. Although if thinking in terms of absolute value, the value of the vehicle leasing contracts will go up, too, the industrial equipment growth will be even stronger, which will translate into an increase in the share of the industrial equipment in the total. Real estate leasing may grow, as well, as more office buildings open," Constantinescu added.
The leasing companies affiliated to banks also hold significant positions inside ASLR. Even though three of the most active companies in this category, BRD Sogelease, Alpha Leasing and Demir Romlease backed out of ASLR last year, other companies like BCR Leasing, Volksbank Leasing, Tiriac Leasing, TBI Leasing or HVB Leasing make up the top ten in terms of value of contracts concluded.
ionut.bonoiu@zf.ro
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