Bosnias Federation leasing sector turns to EUR 10.8mn loss in Jan-Sep 2012.

By bne IntelliNews December 17, 2012
Bosnias Federation leasing sector turned to a BAM 21.2mn (BAM 10.8mn) loss in the first nine months of 2012 after posting a net profit of BAM 521,000 in the like period of 2011, data from the entitys banking agency showed. Four leasing companies recorded net profits worth a combined BAM 3.2mn over the period, while three companies posted a loss amounting to BAM 24.5mn. As much as 91% of the total nine-month loss was recorded by two leasing companies, the report said without naming them. It added that the loss of one of the two leasing houses was bigger than its capital and therefore the company has been put under the agencys monitoring. Yet, the firms owner raised its capital in the fourth quarter of 2012, which will result in an improvement of the sectors financial indicators in the next reporting period. Jan-Sep total assets of the leasing companies shrank 8% y/y to BAM 707.5 mainly due to falling net receivables from financial leasing, which declined 14.2% to BAM 444.4mn (63% share in total assets). Net loan receivables stood at 119mn, down 4.9% y/y, and accounting for 17% of total. Total value of new leasing contracts shrank 22% y/y in the first nine months of the year to BAM 158.3mn, while the number of newly concluded leasing contracts declined 15% over the period to 4,192.

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