The central bank of Serbia has withdrawn compulsory reserve fund
measures for leasing companies in a bid to strengthen the
industry.

By removing the requirement for leasing
firms to hold 10% of the funding borrowed from overseas in reserve,
the executive board of the National Bank of Serbia said it hoped to
create scope for lowering the cost of leasing and thereby
strengthening the competitive position of leasing providers.

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In a statement, the board said: “The
Executive Board judges that the exemption of leasing providers from
this obligation will make financial leasing a more attractive
financial product and help support and promote the financial
leasing market as an integral segment of the domestic financial
market.”

The Serbian leasing industry, made up of 16
active leasing firms, 10 of which are foreign-owned, recorded a
collective net loss of RSD 166m (€1.4m) in the first six months of
2012, according to the central bank.

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