Romania’s leasing market shrank by almost 74 percent in the
first six months of 2009, according to statistics published by the
country’s leasing association Asociatia Societatilor Financiare
(ALB).
Total new business volumes decreased from €2.94 billion to €777
million, with the highest drop recorded in the industrial equipment
and vehicles sectors, ALB figures showed.
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By asset type, equipment leasing represented 15.1 percent of
total new business, down from the 22 percent figure recorded in the
first half of 2008, while vehicle leasing dropped from 71.5 percent
to 65.3 percent.
Real estate leasing, on the other hand, increased from 6.5
percent to 19.6 percent.
ALB said that one of the major trends was the increased
financing of second-hand assets, particularly vehicles, at the
expense of new ones.
It added that the renegotiations agreed between lessors and
their troubled clients determined an average extension by one year
of leases, with a decrease of three and four year contracts
and an increase of contracts with over five years duration.
Antonio Fabrizio
