Slovakia-based VUB Leasing posted losses of €7.3 million for
2009, compared to net profits of €3 million in 2008, it has been
reported.
The company signed deals worth €97.4 million in 2009, dropping
47.1% year-on-year, caused mainly by the continuing financial
crisis and reduced demand for financial leasing.
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VUB has said it expects the value of deals to fall even further
in 2010.
The company is 100% owned by local VUB Banka, which is majority
owned by Italian banking group Intesa Sanpaolo.
Claire Hack
GlobalData Strategic Intelligence
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