Bulgarias leasing market falls 13% y/y at end-Sep 2011.

By bne IntelliNews November 16, 2011
The stock of financing disbursed by leasing firms dropped by 13% y/y and 3% q/q to BGN 3.72bn (EUR 1.9bn) as of end-September, central bank data showed. The annual contraction sustained for a ninth consecutive quarter but the rate has been decelerating since end-June 2010. The leasing market accounted for 4.85% of the full-year GDP forecast as compared to 7.3% of GDP at end-2009 and 5.7% of GDP at the end of 2010. The share of non-serviced contracts rose further to 22.8% of the total from 20.1% at end-2010, 15.9% as of end-2009 and 1.6% at end-2008. The assets of the 92 leasing companies active in the country dropped by 7.4% y/y but increased by 0.6% q/q to BGN 5bn as of end-September.

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