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Leasing is primarily used to finance personal vehicles

According to preliminary data published by the Croatian Financial Services Supervisory Agency, Croatian leasing companies had a total of 65,448 active operational leasing contracts at the end of September last year, with a total contracted value exceeding 12 billion kuna, as well as 46,620 financial leasing contracts, worth a total of 11.33 billion kuna, with the largest portion of both contracts and contracted amounts relating to the financing of personal vehicles.

    Data on the operations of 66 leasing companies in Croatia at the end of September last year also show that during this period, there were 23,556 active loan contracts, with a value of nearly 8 billion kuna. Personal car leasing accounts for 80 percent of operational leasing contracts and nearly 60 percent of financial leasing contracts, as well as about 60 percent of loan contracts. The total value of contracts for financing personal vehicles through leasing companies was thus greater than 11.4 billion kuna at the end of September last year, with the largest part of this amount, over 6.5 billion kuna, relating to operational leasing. In terms of the number of contracts, commercial (cargo and transport) vehicles are in second place, but in terms of value, real estate follows personal vehicles.

Namely, the total value of all operational and financial leasing contracts and loans for financing real estate at the end of September last year was greater than 7.7 billion kuna, and for financing commercial vehicles around 5.5 billion kuna. For financing the procurement of machinery and equipment, the contracted amount at the end of September 2006 was greater than 4.4 billion kuna, and for vessels 1.36 billion kuna, while the smallest portion – just over 27.6 million kuna, relates to financing facilities. Preliminary data from Hanfa also show that the total assets of 66 Croatian leasing companies at the end of the ninth month last year amounted to just over 26.5 billion kuna and that compared to the same time in 2005, it increased by more than 30 percent.

The largest share in assets, at 31.75 percent or 8.42 billion kuna, was held by the leasing company Hypo-Leasing Kroatien, followed by Erste & Steiermaerkische S-Leasing, with a share of 7.83 percent (2.07 billion kuna) and Raiffeisen Leasing with 6.82 percent (1.8 billion kuna). Only Locat Leasing (5.56 percent or 1.47 billion kuna), Porsche leasing (5.47 percent or 1.45 billion kuna), and VB Leasing (5.17 percent or 1.37 billion kuna) had a share greater than 5 percent at the end of September, while the share of all remaining 60 leasing companies together amounted to about 37.5 percent.   (H)