Equipment Finance News

Raiffeisen Leasing financing up 36% in Romania

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danililuc felix

Raiffeisen Leasing Romania ended the first half of 2014 with new funding worth €48m, up 36 % on the same period last year.

The company, which is a member of the Austrian financial group Raiffeisen and has been active in the country since 2002, reported profits of €1.4m in the period. It also gained 1,345 new contracts in the first six months of 2014, up 40 % from the same period last year.

Most (71% ) of the funding granted in the first half went to the vehicle leasing sector, and was primarily focused on trucks and semi-trailers, while the remaining 29% went into equipment leasing.

On the equipment leasing side, the biggest increase was in funding for agricultural equipment, which has doubled compared to the same period last year. The equipment financed was mainly tractors, combines and equipment to prepare the ground and sow. Raiffeisen also reported significant increase in funding for woodworking machinery, forklifts and cargo handling equipment.

“The performance of the first half continued the dynamic growth that we have seen since the first half of 2013 and represents for us a confirmation that providing funding to help customers with solutions designed to support the strengthening of business they run remains the business model that we need to maintain in the future, ” said Felix Daniliuc, CEO of Raiffeisen Leasing.

Raiffeisen Leasing customers are mainly businesses, ranging from SMEs to multinational corporations and the company has a presence in 15 major cities in Romania.