Romania’s Leasing Mkt Seen In 2010 At This Year’s Level, In Best Case Scenario

Romania’s leasing market will reach in 2010, in the best case scenario, this year’s level estimated at maximum EUR1.5 billion, but it is also likely to go below this threshold, depending on the economic evolution, according to representatives of local leasing companies.


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Romania’s Leasing Mkt Seen In 2010 At This Year’s Level, In Best Case Scenario

The Association of Financial Companies - ALB Romania estimates the local leasing market will reach EUR1.25 billion this year, down 74% from 2008 when the value of financed assets totaled EUR4.817 billion. In the first nine months of the year, the leasing market reached EUR1.07 billion.

Raiffeisen Leasing general manager Mihaela Mateescu said the local leasing market would not reach very soon the levels hit in 2007 and 2008 countrywide, adding the second half of 2010 might bring stability and predictability on the market.

Mateescu pointed out local leasing companies will continue to face problems in the first half of 2010, arguing the evolution on the market will depend a great deal on the state budget, as well as the way taxes are collected and the state pays its debts to companies.

Mateescu also pointed out the biggest financing opportunities for leasing companies target infrastructure investments.

Dan Constantinescu, sales manager with UniCredit Leasing Corporation, said local leasing companies were mainly faced this year with the problem of shifting focus from developing their sale strategies to strengthening existing structures and focusing on certain less-developed segments.

In turn, BCR Leasing general manager Claudiu Stanescu said 2009 is the first year, in a very long period, when he has worked hard on budgets, scenarios, strategies and forecasts.

MKB Romexterra Leasing head Cornel Coca-Constantinescu said leasing companies must find new ways to revive the leasing market in 2010 and correct previous faulty approaches, arguing the leasing market, dependent on the auto market, has yet to reach the maturity forecast a few years ago.

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