Despite solid growth last year and rising market demand for the
leasing of vehicles, UniCredit’s Czech asset finance arm predicts a
slowdown in new business during 2008.
New volume is expected to grow by 10 per cent, according to Jiri
Matula, general manager of UniCredit Leasing (Czech Republic),
against increases of just less than double that last year.
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The company is gaining ground, with a 11.5 per cent share of the
transport market totalling CZK13.8bn (€0.5bn) worth of receivables,
and last year moved from fifth to fourth position in real-estate
leasing after growing by a whopping 71.4 per cent. Its real-estate
portfolio currently totals CZK1.3bn (€50m).
However, tax changes are likely to slow down new business
growth, although Matula said the 10 per cent rise this year –
against 19 per cent in 2007 – was a “conservative prediction”. New
business in 2007 totalled CZK17.2bn (€670m).
Nonetheless, gross profits will grow at a much faster rate than
last year, when they increased by just 3.9 per cent to reach
CZK431m (€16.9m), he added.
Executive manager Jaroslav Jaro said the company, formerly known
as CAC Leasing (Czech Republic), last year financed the purchase of
every ninth car in the Czech Republic.
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