The Romanian economic growth of 2006, of over 7%, was also experienced at the level of the leasing market, which registered a significant development, confirming the status of leasing as a complementary financial product to other banking products and accessible to a high number of economic agents, representing over 3% PIB.
To this extent, one could claim that leasing became a medium-term financing source capable of supporting the development of different sectors of the national economy at competitive financing costs.
ALB and ASLR are members of Leaseurope, having a Romanian market share of over 96% (4% of the lessors not being affiliated).
During the year 2006 the financed assets by ALB total 2,284 mil Euros (70%) while ASLR total assets reached 842 mil Euros (26%). The total financed assets as of 31st of December 2006 both by ALB and ASLR values 3.126 mil Euros. The total number of the leasing contracts signed by the ALB and ASLR members as of 31th of December, 2006 is 130.318 (ALB – 82.353 and ASLR – 47.965). The diversity of the financing granted to the sectors of the national economy is shown in the fact that 20% (625 mil Euros) of the total financing was represented by industrial equipment, 5% (147 mil Euros) by real estate and 75% (2,354 mil Euros) by the transport sector.
Regarding the transport category, passenger cars have a share of 71%, heavy commercial vehicles 15% and light commercial vehicles 13% and 1% other categories.
Industrial equipment financing is dominated by the construction field (33%) followed by IT & software sector (11%), food industry (7%), printing industry (6%), oil industry (4%), wood processing industry (4%), vehicle service (3%), medical equipment (3%), agricultural sector (2%), textile industry (2%) and by other sectors (25%).
Regarding the real estate sector, the majority of financing is focused on industrial and commercial buildings (52%), 33% is dedicated to office buildings class A, B&C, while the rest of 15% is dedicated to residential sector.
Corporate customers received most of the financing (83%), followed by retail (14%) and the public sector (3%). Reviewing the duration of the leasing contract, the dominant period is 3 to 4-year term (32%), followed by lease contracts on 2 to 3 years (25%), 4 to 5 years (25%), over 5-years period (11%), 1 to 2 years (5%) and those with an or just one year (2%).
In 2006, financial leasing continued to represent the main direction for the leasing contracts, having a total of 98 % of the total financed assets and the remaining of 2% is represented by operational leasing.
In 2006, the cross border leasing has reached less than 1% of the total contracts confirming the decreasing trend of this type of leasing.
Regarding the total of the Romanian leasing market as of 31st of December 2006n (ALB, ASLR, nonaffiliated lessors) , a study conducted by the Leasing and Non Banking Financial Services Association – ALB and the Association of the Leasing Companies of Romania – ASLR shows a total volume of financed assets worth about € 3,267 mil.
Bank affiliated leasing companies register the largest market share with 75% of the total, followed by the independent companies with 17.5% and captive companies with 7.5%. The growth rate, between December 31st 2005 and December 31st 2006, is of 62%.
