Italy’s new leasing business will be around 35 percent less this year compared to 2008, according to a new research published by Banca Monte dei Paschi di Siena and its leasing arm, MPS Leasing & Factoring.
The research also shows that in 2009 profitability will result in a 40 percent drop compared to last year.
According to the study, which relies on in-house research combined with the most recent figures provided by Italy’s leasing association Assilea, the last quarter of 2009 will see an improvement from the previous three quarters.
In detail, for the first nine months, the new business decline was around 39 percent, while figures for the last quarter should show a more contained decline, of around 20 percent. It is also expected that, next year, new business will start picking up again and increase by some 9 percent, but it will only be in 2011 that new business and profitability will match pre-crisis figures.