Slovakias leasing market expands by 14.4% in 2011.

By bne IntelliNews March 6, 2012
Leasing companies in Slovakia signed new contracts worth a total of EUR 1.848bn last year, up 14.4% compared to 2010, the Association of Leasing Companies in Slovakia said. The total number of new contracts edged 1% higher to 66,578. The leasing market was influenced by one-off deals related to the financing of alternative energy sources, without which the growth would be at up to 10%. The market growth was driven mainly by leasing of machinery and equipment, trucks and real estate. The total financing of machinery and equipment came at EUR 431mn last year, up 47% y/y. Leasing of trucks of over 3.5 tonnes grew 29.3% to EUR 339.2mn and real estate leasing deals rose 26% to EUR 153mn. The increase in the overall value of financed assets came mainly from the business, while household's interest was slightly weaker. The association predicted that the growth of the leasing market would slow down to single-digit figures this year, as the segments of passenger cars, machinery and equipment will be the main driving force. Passenger cars leasing deals rose 10.1% last year to EUR 767.5mn.
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