The total value of the finance provided by the Hungarian leasing sector increased by 24% to 453bn HUF (€1.48bn) in 2014 compared to the prior year, a report by the Hungarian Leasing Association (HLA) has revealed.

Despite the rise in total value, there was a 4% decrease in the total number of contracts and a 3% drop to the total size of the portfolio, to 1430bn HUF.

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Compared to previous years, the proportion of finance conducted with SMEs increased compared to the amount done with residential customers.

Equipment finance made up 50% of the total number of contracts and 80% of the total value.

Significant improvement was observed in the machinery financing segment compared to the 2013, and the HLA noted it was approaching pre financial crisis levels.

On the other hand, property leasing declined and retail car financing remained at a low level.

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