BUSINESS

Romanian financial leasing market shrinks 16 pc by mid-year

The Romanian financial leasing market recorded EUR 546 M worth of overall newly-financed volume at the end of June 2013, down by 16 per cent from the same period a year ago, the Financial Companies Association – ALB Romania said in a release. ‘An objective reason having negatively and directly hit the funding of the leasing market of used vehicles is the setting up of the green stamp under the Government’s emergency ordinance no. 9/2013. Another factor is the dwindled purchases of new vehicles, no matter what the funding source, as financing the transport sector remains a major-interest niche for the financial leasing companies’, the release adds. Funding extended in the six months of this year were directed to various sectors, with the transportation means keeping holding a majority share of 73 per cent or EUR 400 M as compared to equipment funding at 24 per cent or EUR 133 M and the real estate with 3 per cent or EUR 13 M. According to ALB Romania, with respect to financing the transportation means it can be noticed that the market keeps a relatively constant interest in funding cars (56 pc), heavy commercial vehicles of over 3.5 tonnes (26 pc), light commercial vehicles weighing less than 3.5 tonnes (15 pc) and other vehicle categories (3 pc). The association officials say financing the real estate sector did not pass the 2012 historic low, thus being in keeping with the general real estate market circumstances in Romania.

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