Scandinavian lessor Nordea Finance has set its sights on
becoming the leading leasing and factoring provider in the Baltic
states by 2012, it was reported.

Nordea Finance Latvia CEO Ivars Smits made the announcement at a
news conference on 25 May.

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He also said Estonian colleagues had already reached the
target.

According to information provided by Smits, Swedbank Lizings is
currently the leader in terms of turnover in new factoring deals,
holding about 55% of the market, while Nordea Finance
Latvia follows at 22%.

UniCredit Leasing is the leader for new leasing deals, with a
market share of 31%, followed by Swedbank Lizings at 29% and Nordea
Finance Latvia at 16%.

In order to hit its target, Nordea Finance Latvia has to finance
a quarter of new leasing deals, Smits said.

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Nordea Finance Latvia ended 2009 with a loss of LVL 4.4 million
(€6.3 million) compared to a profit the year before, it was
reported.

Claire Hack