Serbian leasing sector net loss widens to EUR 4.8mn in Jan-Sep 2013.

Published on December 6, 2013 10:59 am

Serbia’s leasing sector net loss widened to RSD 548mn ( EUR 4.8mn ) in January- September 2013 from RSD 193mn a year ago as revenue declined faster than expenditures, the central bank said. Total income contracted 22.3% y/y to RSD 3.8bn in January-September, whereas total costs and losses fell 15.0% to RSD 4.2bn over the period. Interest income from leasing, which accounted for the major part of total income (75%), shrank 25% to RSD 2.9bn. Interest expenditures (33% share in total expenses) plunged 39% y/y to RSD 1.3bn in January-September. The sector’s total assets stood at RSD 68.2bn at end-September, down 1.0% q/q and 10.9% y/y. A total of 16 leasing houses were active in Serbia at end-September 2013 , unchanged compared a year earlier. At end-September, 10 of the active companies were foreign-owned, 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 17.2% at end-September from 22.0% a year ago but the company has kept its leading position. Belgrade -based UniCredit Leasing ranked second in terms of assets with a market share of 14.5% while at end-September 2012 it ranked seventh with a 6.7% market share. Intensa Leasing was the third largest Serbian leasing house in Q3 with a 9.6% market share, up from 9.3% the year before.

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