Italy’s Banca Agrileasing has reported a gross profit of €8.5
million in the first six months of 2009.

The Italian lessor said that the figure was down compared to
last year because of the increased risk costs, but still positive
within the current downturn.

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Net profit was €1.9 million due to higher tax burdens, which
have increased by 30 percent compared to last year.

New business volumes in the six months reached €1 billion.

Financial leasing new business was €774 million, with 4,500
contracts signed – down only 8 percent compared to a drop of over
40 percent recorded in the country’s leasing market.

In the period, the lessor reported a new business of over €38
million in project finance, mainly in the renewable energy
sector.

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The company recently joined a government-backed moratorium to
support struggling SME-sized firms.

Antonio Fabrizio