Poland sees leasing volumes drop heavily despite robust GDP

Despite Poland being one of only two European economies to report growth over the years first quarter (at 0.4 percent), results from the countrys Leasing Association suggest that the countrys formerly booming leasing industry is still in extremely difficult circumstances. The industry at large saw Q1 business volume drop a severe 38 percent year-on-year, from 1.78 billion in 2008 to just 1.1 billion this year The Polish arm of Austrian giant Raiffeisen was worst hit, seeing new business drop by nearly 70 percent, while BRE Leasing also saw a fall of more than 50 percent.

Despite Poland being one of only two European economies to
report growth over the year’s first quarter (at 0.4 percent),
results from the country’s Leasing Association suggest that the
country’s formerly booming leasing industry is still in extremely
difficult circumstances.

The industry at large saw Q1 business volume drop a severe 38
percent year-on-year, from €1.78 billion in 2008 to just €1.1
billion this year. The Polish arm of Austrian giant Raiffeisen was
worst hit, seeing new business drop by nearly 70 percent, while BRE
Leasing also saw a fall of more than 50 percent.