market grew 77.7 percent year-on-year to €2.8bn in Q3, according to
Bulgarian central bank data.
This is a decrease compared to the previous quarter, where the
market had grown by 83 percent. Of the €2.8bn, 27.2 percent can be
attributed to lease contracts for machines, facilities and
industrial equipment.
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The data also revealed that new finance lease contracts added up
to €551 million, against €582 million in Q2, up 48.4 percent and
72.7 percent, respectively.
The CEO of UniCredit Leasing Bulgaria, Plamen Minev, attributed
the slower Q3 results to the summer holidays; ruling out the option
that the ongoing financial turmoil may have also played a part.
Minev forecasted, however, that the ‘credit crunch’ will reduce
growth in Q4, traditionally the strongest period.
Separately, UniCredit Leasing Bulgaria has received a credit
line from the European Investment Bank worth some €80 million – the
highest amount given in Bulgaria thus far. The new credit facility
will be used to finance SME and mid-corporate companies with up to
3,000 employees.
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