The Slovakian arm of VB Leasing, owned by Austrian finance
colossus Volksbank, ended its 2008 financial year €1.32 million in
the red, as opposed to the €4.3 million profit achieved a year
earlier.
VB Leasing SK reported new business growth in the first half of
2008, but saw a sharp drop in business subsequently, due in part to
the crash in European road freight and a collapse in demand for
truck sales. Slovakia’s transition to the Euro was also mentioned
as a contributing factor.
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!n 2008, VB Leasing SK transacted €220 million of business, down
10.5 percent y-o-y, with trucks forming 35 percent of
contracts.
Fred Crawley
