Turnover of VB Leasing has increased 6%

Viviani Mirică (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 20 ianuarie 2012

"Ranked the fourth biggest company specializing in financial leasing services in Romania, VB Leasing had a positive evolution over these past few years, and its financial results are all the more impressive, when one considers that they were achieved in a very difficult socio-economic and financial context", Liviu Şerban says.

"Ranked the fourth biggest company specializing in financial leasing services in Romania, VB Leasing had a positive evolution over these past few years, and its financial results are all the more impressive, when one considers that they were achieved in a very difficult socio-economic and financial context", Liviu Şerban says.

VB Leasing Romania, part of the European Financial Group VB Leasing International Holding GMBH, ended the year 2011 with a turnover of about 90 million Euros, up about 6% compared to 2010, said Liviu Şerban, managing director of VB Leasing Romania.

"Thus, the company has continued its positive evolution of 2010, when its turnover increased 25%, from 68 million Euros in 2009, to 85 million Euros, which makes these results even more significant, when considering that the leasing market had a decline of 14%", the representative of VB Leasing explained.

These financial results are due, first and foremost, to the increase of the number of contracts concluded by VB Leasing, as well as due to the drop in the risk costs. The company concluded about 3,437 contracts in 2010, and approximately 3,600 in 2011.

Liviu Şerban said: "VB Leasing Romania continued its upward trend of 2010, and focused on streamlining its activity, by reducing risk and operating costs on one hand, and maintaining profit margin on the other. Whereas last year, in a very difficult socio-economic context, the company had a growth of 25% compared to 2009, in 2011 we focused on increasing the stability and the liquidity of the company".

In 2011, VB Leasing focused on the leasing of tools and equipment

Anticipating the trends of the market, in 2011 VB Leasing focused on the leasing of tools and equipment in the industrial sector, says Liviu Şerban, who went on to say: "The financing of these equipments has gained a lot of ground over the past two years, amid investments in retooling and the development of infrastructure, as the division of VB Leasing doubled its number of contracts and the amount of the financing between 2010-2011".

VB Leasing Romania includes three departments: "Cars and light utility vehicles", "Construction and transport" and "Equipment", with the latter serving industries such as food and beverages, the agricultural sector, the medical sector, and industries such as woodworking, plastics, metal and non-metal processing and the polygraphic industry.

As to what concerns the structure of the portfolio of VB Leasing, the weight of the financing of equipment and tools increased from 19% in 2010, to 23% in 2011, whereas the weight of financing contracts for vehicles fell from 81% in 2010, to 77% in 2011.

"However, the weight of vehicles in the total portfolio remains high, being propped up by the financing of commercial vehicles of more than 3.5 tons, needed in the transportation and infrastructure segments. For the future, VB Leasing estimates an increase of the interest of companies in agriculture, transports and construction, as the company already has strategic partnerships in these areas", the official of VB Leasing says.

The company has its own fleet of second-hand cars and a virtual store

In order to sell the recouped assets, VB Leasing has invested in the creation of an online system for advertising and selling the repossessed assets, as well as in its own fleet of vehicles, with sales experts.

"Starting with 2008, VB Leasing launched, on the company website, a system for advertising and selling the repossessed assets, "VB Leasing Store". The slogan of the system is "second chance shopping". Each asset is presented objectively, meaning that the customers can evaluate its qualities, as well as its flaws, where applicable".

In September 2011, the company has invested in the development of its own fleet of used cars, with specialized sales agents, with a surface of 4,000 sqm. This sells cars, light and heavy utility vehicles, trucks and semi-trailers.

Following these investments, VB Leasing has reduced the number of repossessed items from one year to the next, "and has been successful at selling them in a very short time", said Liviu Şerban.

VB Leasing remains willing to reschedule repayments

In many cases, after the onset of the financial crisis, banks as well as the leasing firms approved, the restructuring of the leasing contracts, for customers which had problems making their payments.

Liviu Şerban says: "VB Leasing continues to respond to the requests for restructuring of the initial financing terms, standing by the principle of mutual support. Since any recovery measure results in the change of the risks profile of the client, the decision to implement such a request basically amounts to a new decision to lend which requires a thorough analysis of each particular case".

The approval of the restructuring of a financing takes into account the payment behavior of the customer (including its profile with the Central of Banking Risks), his motivation, the forecasts concerning the evolution of their business in the future, and the area of expertise.

Plans for 2012: developing the partnerships with auto vendors further

In 2012, as the Romanian economy will show signs of growth, and the financial markets will stabilize, VB Leasing plans to expand its partnerships with automobile vendors.

In a nutshell, the company plans to teach the sales agents of the car vendors on how to educate their customers on leasing.

Liviu Şerban says: "< Moreover, in order to function nonstop, VB Leasing has already invested in online instruments that will complement the services it provides to its customers and partners. In 2012, the company plans to increase the rate of utilization of these instruments".

Incorporated in 2000, VB Leasing Romania is part of the financial group VB Leasing International Holding GMBH, headquartered in Vienna, present on the markets of Central and Eastern Europe. Ownership of VB Leasing International is split equally between Osterreichischen Volksbanken-AG and VR-LEASING AG.

"Over these past few years, VB Leasing Ramânia came to see low to very low default rates, as well as a very low number of frauds", the company's manager says. He went on to say that in the process for the selection of customers, "the company constantly strives to improve the standardization and automation of the approval process, while remaining flexible in deciding who to finance".

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