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Romstal Leasing grants funding worth 130m euros in H1

Romstal Leasing, a subsidiary of Belgian group KBC, granted funding worth 130.5 million euros in the first half of the year, up 53 percent against the same time in 2007, daily Ziarul Financiar reports on Tuesday.

'Equipment leasing and commercial vehicle leasing contributed two thirds of the funding granted in 2008,' daily Ziarul Financiar quotes Ionut Chirila, marketing manager of Romstal Leasing as saying. The company sealed 3,050 contracts in the first half and has funding worth 275 million euros budgeted for the entire year, via 7,500 contracts, according to previously announced plans. In the first six months of the year, the company financed equipment leasing contracts worth 19 million euros (i.e. 17.8 percent of turnover) - over three times more than in the same period of 2007. However, the main business line remained commercial vehicle leasing, which accounted for 44.8 percent of the funding granted, while in the first half of last year it accounted for 42 percent of overall funding. Vehicle leasing contributed 32 percent to Romstal's turnover, while real estate leasing contributed 4.8 percent. In the first six months of the year, real estate leasing contracts exceeded 5 million euros, but the company expects to reach 20 million euros for the entire year. Company officials say equipment leasing should account for 30 percent of the financing to be granted in 2009, given the high potential of this segment. Romstal Leasing operates a 32-unit network, after it opened two local offices in the first half of the year, in Caransebes and Buzau. The company plans to open other offices in Targoviste, Sfantu Gheorghe and Bucharest. Around 40 percent of the company's operations are concentrated in Bucharest, which is expected to remain unchanged in the coming period. Belgian-based KBC took over Romstal at the end of 2006, when the group's leasing division agreed to pay 70 million euros for the majority stake in the company, after a deal was closed in March 2007. Sursa: http://www.rompress.ro

Tags: leasing euros percent company first million worth romstal funding

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