Raiffeisen Leasing: business slumped 27% in 2008

The Romanian leasing division of the Raiffeisen group announced that its turnover last year shrank by 27 percent to 191 million euros after the global economic situation worsened, especially in the last quarter, NewsIn informs.

The local leasing market lowered 2.6 percent last year versus the previous one to 4.817 billion euros following a negative impact of the pollution tax for vehicles and the difficult economic context in the last part of 2008, according to data published by the Leasing Companies Association (ALB) at the beginning of the month.

Raiffeisen Leasing financed last year some 3,000 contracts. In 2007 the company financed goods of 261 million euros.

Two thirds of last year’s financing went to car buying, 22 percent to equipment acquisitions and 3 percent to the real estate field.

Consequently, the company’s active portfolio reached 291 million euros and 12,500 clinched contracts.

This year, Raiffeisen Leasing is set to fight the economic crisis and implement a cost cutting management.

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