Credit Europe Leasing, one of the top ten leasing companies on the domestic market, plans to grab more than 4.5% of the market, from 3.7% at the end of last year.
"This year, we want to generate growth above the market level, namely by over 32%. We will no longer witness high growth rates, but we will try to improve our market share. This year, we target a market share of 4.5%-5%," stated Kerem Sekizyarali, chairman with Credit Europe Leasing.
The leasing firm of Credit Europe financial group in 2006 financed contracts worth 120 million euros, 160% above the level registered in 2005.
"Until 2005, we did not expand at fast pace as financial resources were the main problem. During that period, Turkey was undergoing an economic crisis and our majority shareholder could not sustain our growth. In 2005, our shareholder structure changed, with Finansbank Netherlands becoming our new shareholder," explains Sekizyarali. The shareholder structure changed as Finansbank Turkey and the Finans brand were taken over by National Bank of Greece last year.
The Finans network, still held by Fiba International Holding NV, made up of financial institutions in Romania, Russia, the Netherlands, Germany, Switzerland and Ukraine, started operating under the name of Credit Europe this year.
"2006 was the first year when we did not experience any financial problems as the group provided us with the necessary financing sources. Last year, we started tapping into the market. We are old, but still new," explains Sekizyarali.
Credit Europe Leasing ranks ninth among domestic leasing firms, after the merger of UniCredit Leasing and HVB Leasing, with a market share of 3.7%, after having ranked 17th in 2005, with a 2.26% market share.
The company is following the general trend of the market, of focusing real estate and equipment leasing instead of motor leasing. Equipment leasing had a weight of 31% in overall financing contracts Credit Europe Leasing sealed in 2006, while car and real estate leasing accounted for 52% and 17%, respectively.
One of the main directions Credit Europe Leasing will follow will be truck leasing, for which the company is readying a scoring system.
Credit Europe Leasing mainly targets the corporate segment, with 93% of its customers being companies, while the rest of 7% are individuals.
Sekizyarali believes financial leasing will further dominate the market, considering it accounted for 98% of overall financed assets last year.
Credit Europe Leasing is headquartered in Bucharest and has five offices in Iasi, Timisoara, Cluj, Brasov and Constanta.
It plans to open an office in Craiova and another 3 in the northern part of Romania this year.
Credit Europe Leasing
As one of the top ten players on the domestic leasing market, it plans to boost its market share from 3.7% in late last year to more than 4.5% this year
Plans to generate growth above the market level this year, of over 32%
Ranks ninth among domestic leasing firms, having climbed from the 17th position held in 2005
Is focusing on real estate and equipment leasing
Mainly targets the corporate segment, with 93% of clients being companies and the rest of 7% individuals
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