Serbian leasing sector posts net loss of EUR 1.7mn in Jan-Sep.

By bne IntelliNews November 21, 2012
Serbia's leasing sector recorded a net loss of RSD 193.3mn (EUR 1.7mn) in the first nine months of 2012 after posting a net loss of RSD 41.6mn for the whole of 2011, the central bank said. Jan-Sep combined total revenue of the leasing companies shrank 9.5% on the year to RSD 4.9bn, while their total costs for the period fell 3.5% to RSD 5bn. The sector's total assets stood at RSD 75.6bn on Sep 30, down by 9.2% q/q and by 5.8% compared to end-December 2011. A total of 16 leasing houses were active in Serbia in the third quarter of 2012 unchanged compared to the previous quarter. In the third quarter, 10 of the active companies were in foreign ownership, five were majority-owned by domestic entities and one company was with 50/50 mixed capital. In terms of assets, the market share of Hypo Alpe-Adria Leasing shrank to 22% at end-September from 25% at end-2011 but the company has kept its leading position. Intensa Leasing ranked second in terms of assets at the end of September as its market share climbed to 9.3% from 8.3% at end-2011. Belgrade-based UniCredit Leasing was the third largest Serbian leasing house at the end of the first nine months of 2012 with an 8.2% market share, while at the end of last year it ranked seventh with a 6.1% market share.
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