Swedbank accounted for 65% more lease contracts

Growing economic and business confidence encourages companies to make more active use of credit services. One of the fastest growing types of loans is leasing. The largest commercial bank operating in our country – Swedbank points out that in the first six months of 2018 65 percent more lease contracts were concluded with companies than in the same period in 2017.

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In the first half of this year, the total value of lease agreements that Swedbank had with companies was 104 million. euro or 65% more than in the same period a year ago. The largest part (87 million euros) was realized through car leasing, the remaining 17 million. The euro was special for equipment and machines. The highest growth was recorded in the financing of commercial vehicles and companies chose to buy more expensive cars this year.

"When companies upgrade existing commercial fleets and invest in their development, we monitor steady growth in the transport leasing market According to data from the Lithuanian Banks Association, the amount financed in the first quarter of this year rose by 9 percent and we think that the financing continued to grow in the second quarter, at that time, Swedbank & # 39; s commercial transport leasing The value of contracts in January-June this year amounted to 55 million. EUR. It is 34 million more than in the same period last year – mainly due to one large financing transaction, "says Liudas Zajančkauskas, head of the Leasing Support and Development department at Swedbank.

Large and medium-sized transport companies have opted for new commercial vehicles. At that time, smaller companies gave priority to used transport – only 4 out of 10 vehicles purchased by these companies were new. According to Swedbank's representative, the company's decision on the choice of commercial transport is often determined by the main direction of its business – when operating in Western markets, newer trucks are needed and older vehicles are chosen on domestic and eastern markets.

During the first half of this year Swedbank also financed 6%. more companies that buy cars for a total of 32 million. EUR. 75 percent of all new cars bought by the company were new.

According to Swedbank, Škoda, Volkswagen and Toyota are among the most popular brands among new cars. The most popular used cars are Volkswagen and the finer qualities of BMW and Mercedes-Benz.

"We notice that in the first half of this year companies were looking for slightly more expensive cars than last year. The average value of a newly financed car this year was about 30 thousand. and compared with the previous year, increased by 2 thousand. ", says Liudas Zajančkauskas.

According to him, companies opt for a car financing service for financial lease or operational lease, while the financing agreement is on average 3-4 years.

The acquisition of cars in the context of operating lease agreements is gaining momentum in small and medium-sized companies – with them Swedbank accounted for 67% in the first half of the year. all types of contracts. 33% of large companies. all operating leases. Operational leasing remains a matter for business customers who want to ensure that the costs of fleet management are as predictable and verifiable as possible and that they can concentrate on the core activities of the company.

You can entrust the finance company with the choice of operating leases, account management, insurance and administration of insurance events, tire change and storage, technical car maintenance and many other issues related to fleet management.

During the first half of this year, the amount of special equipment and equipment financed by Swedbank amounted to 17 million. euro. In comparison with the same period last year, this amount remained the same.

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