ALB Expects Leasing Financed Goods To Reach 3,2 Bln EUR This Year

In the General Meeting held on April 26th, members of the Leasing and Non-Banking Financial Services Association (ALB) decided to welcome two more members: Cyprus Leasing Romania IFN S.A. and Global Finance&Leasing (Fortis Lease) IFN SA.

In 2006, ALB members contributed 100,95 million EUR to the general budget, up nearly 18% from 85,72 million EUR a year earlier.

On December 31st 2006, the value of capital subscribed by ALB members was 80,78 million EUR, while assets totaled 2.862,05 million EUR. For 2007, ALB expects the total value of goods financed through leasing by its members to reach 3,2 billion EUR.

The Leasing and Non-Banking Financial Services Association (ALB) currently accounts for over 72% of the Romanian leasing market, being comprised of 20 leasing companies and 3 consumer loan companies as follows: AFIN Leasing IFN S.A., Alpha Leasing Romania IFN S.A., BCR Leasing IFN S.A., BRD Sogelease IFN S.A., Cyprus Leasing Romania IFN S.A., EFG Eurobank Leasing IFN S.A., Estima Finance IFN S.A., Global Finance & Leasing (Fortis Lease) IFN S.A., Immorent Romania IFN S.A., ING Lease Romania IFN S.A., Italo - Romena Leasing IFN S.A., Motoractive IFN S.A., Piraeus Leasing Romania IFN S.A., Provident Financial Romania IFN S.A., Raiffeisen Leasing IFN S.A., Romexterra Leasing IFN S.A., TBI Leasing IFN S.A., TBI Credit IFN S.A., Tiriac Leasing IFN S.A., Unicredit Leasing Corporation IFN S.A., Volksbank Leasing Romania IFN S.A.

Established in 2004, ALB started by promoting leasing as a financial service, an alternative to loans from banks. When a legal framework was issued (GD 28/2006) to acknowledge leasing as a lending activity, ALB opened to all types of non-banking financial institutions, as defined by the normative act.