Slovak lessors saw a rapid deterioration of
the market last year, according to the country’s Association of
Leasing Companies (ALS).
New business volume fell by over 45 percent to
€1.5 billion (from €2.8 billion in 2008), mainly because of a steep
decline during the first six months of the year.
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This was mainly due to a significantly reduced
demand from SMEs to finance their investment needs, and to lessors
becoming much stricter in assessing the risk of their clients’
projects, the association said.
Insolvencies deepened, heavily affecting
smaller lessors. The number of new contracts was 35 percent down to
around 68,000. ALS chairman Juraj Ebringer said that leasing
contracts have now stabilised to around half of the levels of the
previous years.
UniCredit Leasing Slovakia was the market
leader (with volumes of roughly €220 million), followed by CSOB
Leasing (€190 million) and Volkswagen Financne sluzby Slovensko,
the Slovak arm of Volkswagen Financial Services (€188 million).
Antonio Fabrizio
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