Data emerging from the Romanian leasing industry this month
seems to confirm lessors’ worst fears about CEE markets, as many
large players have reported year-on-year new business drops as high
as 99 percent.
Among those worst affected were Raiffeisen Leasing (93 percent
down), Fortis Lease (95 percent down), and EFG Leasing (96 percent
down).
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With such brutal changes being the norm for most of the
country’s international banking subsidiaries, it appears that every
bank in Europe with Romanian leasing business is in a hurry to
leave.
Speaking to the Romanian press, Dragos Cabat, president of
financial analyst association CFA Romania, commented that intense
M&A activity was to be expected in the next two years while the
shattered market seeks to consolidate.
Further details of the crisis in Romania and the other CEE
regions will be published in next month’s Leasing Life
(August issue).
Fred Crawley
