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VB Leasing funding stagnates at 90m euros in H1

VB Leasing funding stagnates at 90m euros in H1
01.08.2008, 19:44 11

Funding granted by VB Leasing, one of the top ten companies on the leasing market, stagnated at 90 million euros in the first half of the year, after the company registered two-digit increases over the last few years. This is one of the first signals of the market slowing down, with leasing affected by higher lending costs and by a small increase in car sales, a segment that many players rely on. Last year, the leasing market saw spectacular growth, by 54%, and reached 4.9 billion euros. "Given the evolution of the financial market and the interest rates, which were up in 2008 against 2007, first-half results were similar to those experienced during the same time last year," said Peter Demmer, general manager of VB Leasing. Around 69% of funding granted by the company was used for the acquisition of cars and utility vehicles, 26% for lorries, trailers and vehicles used in the construction sector, and 5% for other types of equipment.

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