Leasing companies in Belarus have seen a
decrease in business as 2008 has progressed, according to
Alyaksandr Tsybulka, the chairman of the Belarusian Union of
Leasing Companies, who spoke at a Minsk press conference this month
on the subject.

He said that the industry’s performance in Q4 would be down
compared with the first three quarters of this year.
2007 saw an increase in business volume of 44 percent compared to
2006 for Belarus’ leasing companies, a growth rate that will by all
accounts be greatly diminished when year end results for 2008 are

“It is important not to fall into a stupor because of the
falling supply of resources to leasing companies amid the financial
crisis,” said Tsybulka. “Many companies are using their own
resources. Such companies will even win in the current

He also mentioned plans to develop a leasing market for
second-hand assets, as a result of more assets being returned to
leasing companies. “They will be transferred from less efficient
lessees to those that operate more efficiently. We are getting
prepared for this,” he said.

Consolidation was also predicted, with Tsybulko expecting many
small regional lessors to become brokers for larger companies.

Tsybulko described transport as the “most liquid area” for
lessors to operate in, with former number one machinery leasing
dipping from 72 to 40 percent of the leasing market in