BRD Sogelease adds 18% to nine-month business to EUR 197m on more contracts

Publish date: 28-11-2008
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The leasing company with the second lender by assets and network BRD SocGen announced the value of contracts in the first nine months rose an annual 18 percent to 197.45 million euros, after their number also grew.

Some 2,800 contracts were inked from January to September this year, most of them car leasing contracts, followed by construction equipment and medical one.

The company said it will focus more on financing in industry, healthcare and agriculture, but also on real estate. Yet, the best selling contracts are still cars and construction equipment.

BRD Sogelease is 99.96 percent controlled by BRD Groupe Societe Generale and is part of the Financial Companies Association in Romania.

The Romanian leasing market rose only 29.7 percent in the first nine months, versus 42 percent in the same period last year, especially because the pollution tax on cars entered into force, data from the Leasing Companies Association (ALB) recently revealed.

However, the industry stands chances of booming again despite the financial crisis hammering the market in Romania as well. The government suspended the car tax for a year, to help local car makers which were hit both by the crisis and by the spurring sales with second hand cars.


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