EnglishBRD Sogelease IFN S.A., the leasing division of BRD - Groupe Société Générale, concluded over 1,400 contracts in 2010, worth 99 million Euros, up 35% over 2009, according to a press release by the company.
On December 31st 2010, the structure of the institution"s portfolio was era: 32% vehicles, 53% equipment and 15% real estate, with a balanced distribution concerning the financing risk.
"Significant growth was seen in the financing of the real estate sector, due to the rise in the "sale & lease-back" types of contracts, which proved a viable solution for obtaining cash in the period of crisis. In 2010, the biggest drop was in the financing of vehicles and construction equipment, due to the freeze in the two sectors", the quoted press release states.
In 2010, BRD Sogelease has improved the process of repossessing and selling the assets from the contracts that were cancelled.
The managing director of BRD Sogelease, Vorles Morlot, is optimistic for the year 2011: "In our opinion it is essential to support our customers and our suppliers, and we consider that it is only by focusing our efforts together and adapting the existing financial facilities to the needs of the market that we will be able to weather this difficult period. For the current year, our strategy is aimed at preserving the existing portfolio, concluding new leasing contracts and launching new products by concluding new business agreements with dealers and suppliers of goods".
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