Romanian Leasing industry grows with 20 percent in 2016 and 2 billion euro financed assets

Romania's leasing industry could attain in 2017 its medium- term growth potential of 15 pct, while the value of financed assets could exceed 2.3 billion euro, president of the Financial Companies Association (ALB) Bogdan Speteanu said on Wednesday at the annual conference of the industry.

"Speaking of expectations for the leasing industry in 2017, I would say that we will attain our growth potential. In recent years we came to the conclusion that a figure around 15 percent represents a sustainable growth for the leasing market. In the current context and considering the macroeconomic forecasts for next year, and also in connection with Romania's economic growth rate which hopefully will further stay on tops of the EU charts (...) we consider that a 15 percent growth is realist ic. Next year we hope to see the leasing market go towards 2.3 billion euro," Bogdan Speteanu told the 12th ALB Romania national conference organised together with Govnet Conferences.

As for the structure of financing, he said he does not expect major changes in 2017, but sees a possible advance of equipment financing, provided that there is an appetite for investment.

In 2016, Speteanu sees the industry advancing by 20 percent, and the value of financed assets at almost 2 billion euro. Motor vehicles account for more than three quarters of the market and in connection with this, Speteanu said that there is a change in the market compared to the previous year, as in 2016 cars and light commercial vehicles make the bulk of the financing, while in 2015 it was heavy commercial vehicles that drove the market's growth.