At 7 percent, the Polish leasing
industry is continuing to experience growth, although at a
dramatically slower level than last year, where the industry
recorded 50 percent growth; according to data from the Polish
Leasing Association. Figures also revealed that the volume of
financed goods reached €6.2 billion in the first three quarters of
2008.

Commenting on the industry, Mariusz Kurzac, the CEO of ING Lease
in Poland, said he expects the first half of 2009 to be “difficult”
for leasing companies.

“The last quarter of 2008 saw falling financing of transport
vehicles, machinery and tools,” he said. “The financial crisis has
already left its mark and it will be extremely difficult to repeat
the results from 2008.”

However, the head of the Polish Leasing Association, Andrzej
Sugajski, remains confident, and expects “robust growth” in the
passenger vehicle market.

“Car salesmen are recommending leasing products four times more
often than banking loans,” he explained. “Besides, 70 percent of
vehicles acquired by companies are already financed through
leasing.”