Antoaneta Curteanu, ALB: The leasing market has increased 4.4%

The leasing market has grown 4.4%, in the first three quarters of 2011, according to the National Statistics Institute, Antoaneta Curteanu, the president of the Association of Financial Companies -ALB Romania (ALB) said yesterday in a press conference.

"Leasing is an industry with a creative force, whose contribution to the GDP of Romania can be far more significant", she said, and she added that she hopes this year that share will get closer to 9%.

In the first nine months of the year, the total number of contracts signed by the members of ALB and non-affiliated companies was 1,002.86 million Euros, up 28% over last year. The funding was directed towards various sectors, of which equipment accounted for 26% (265.50 million Euros) real estate - 9% (90.08 million Euros) and transports 65% (647.28 million Euros).

The largest market share was seen in the sector of bank subsidiaries, with 62.6% of the total, followed by the sector of captive companies, with 20.9% and by the sector of independent companies, with 16.5%.

In the transportation sector, the evolution of financing in the first nine months of the year, indicates that the weights of the various types of vehicle leasing has remained relatively constant. Thus, individual cars account for 54%, heavy commercial vehicles account for 30% and light commercial vehicles account for 14% of the total.

When it comes to equipment financing, the heaviest weight comes from agricultural equipment, with a market share of 23%, followed by the construction sector with 17% and electrical equipment with 11%.

Looking at the evolution of the leasing market in Romania, Antoneta Curteanu said that "leasing needs support from the authorities". The president of the ALB urges the Ministry of Finance to ensure fiscal stability, cooperation and transparent dialogues.