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Erste could enter Romanian operational leasing market by year-end

Austrian Erste financial group is considering the possibility to establish an operational leasing company in Romania by the end of 2008, the Business Standard informs.

The market is still in its early development stages and has strong growth possibilities, according to the General Manager of Erste's subsidiary BCR Leasing, Claudiu Emanuil Stanescu. The lack of information about operational leasing is, however, the main problem of this segment, he added. Operational leasing is an integrated product, which requires many partners, such as auto dealers, repair shops and car parts suppliers, according to Stanescu, who explained that operational leasing is different from financial leasing in terms of accounting. In the case of operational leasing, the asset is amortized at the leasing company, while the amortization is made at the client, in financial leasing operations. Erste group's net profit rose by 2.6 percent in the first quarter of 2008, to 310 million euros, the Business Standard concluded. Sursa: http://www.rompress.ro

Tags: leasing operational erste car bcr

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