Egnatia Leasing, a member of Egnatia Greek financial group, last year financed goods worth 71.9m euros, almost three times more than the 26.3m euros registered in 2005.
Last year, the company registered a turnover worth 99m euros, which was calculated to include the value of contracts signed, up 138% from the level of the previous year.
The Greek leasing firm's net income stood at 2.5m RON (0.7m euros) in 2006, with the company employing only 30 staff.
Egnatia's growth rate was one of the fastest on the domestic market and exceeded the 62% rate of the leasing market. Leasing companies boasting growth above the market level in 2006 include Credit Europe (the former Finans International Leasing), Tiriac Leasing, Piraeus, Motoractive and Romstal.
Last year, Credit Europe Leasing saw the value of contracts signed soar by 160% to a total of 120 million euros amid the diversification of financing offers and improved services. This helped the Turkish leasing company climb to the tenth position in the ranking of leasing firms, after ranking 15th in 2005. Another leasing firm, Piraeus Leasing, which is backed by a domestic bank, saw the value of financing contracts double in 2006 to 110 million euros.
Leasing companies' fast growth rates turned this sector into one of the most dynamic sectors in terms of acquisitions last year. As a result, Belgium's KBC acquired Romstal Leasing for 70 million euros, while GE Money bought Motoractive Leasing in a deal worth 140 million dollars together with Domenia Credit and Ralfi (the consumer finance brand of Estima Finance).
The value of financing contracts signed for the overall leasing market in 2006 amounted to 3.26 billion euros, taking into consideration the fact that motor leasing lost ground to real estate and equipment leasing. Real estate leasing doubled its share on the overall leasing market
