The leasing market is likely to see a 10% increase this year, after having plummeted in the past two years, but UniCredit Leasing, the biggest company in the field, has budgeted a 15% turnover increase on the back of projects in several fields starting with renewable energy, states Antoaneta Curteanu, CEO.
"We believe the market is rising by at least 10% and this is not even difficult as given how much it has slipped in the past two years, a few bigger deals will be enough. Leasing is a more flexible product than banking loans and is better suited for some fields, especially during a challenging economic period".
The increase may be hindered by a stipulation in the new Fiscal Code enforcement guidelines that says that VAT has to be paid within 30 days after a contract is cancelled. "This new rule is seriously hurting the industry as it takes between three to five months until you take back an asset, to say nothing of re-selling it. The industry may be frozen, but we hope we will find a solution together with the Finance Ministry".
UniCredit Leasing last year sealed new funding deals worth 225m euros, down by over 20% from 2009, accounting for an over 20% market share, more than double the one of the second leading player, BRD Sogelease.
The leasing market is likely to see a 10% increase this year, after having plummeted in the past two years, but UniCredit Leasing, the biggest company in the field, has budgeted a 15% turnover increase on the back of projects in several fields starting with renewable energy, states Antoaneta Curteanu, CEO.
"We believe the market is rising by at least 10% and this is not even difficult as given how much it has slipped in the past two years, a few bigger deals will be enough. Leasing is a more flexible product than banking loans and is better suited for some fields, especially during a challenging eco
