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Hungary leasing market expands 16% in H1

Financing of Hungarian leasing companies reached HUF 159 billion in the first half, up 16% from the same period a year earlier, Hungarian Leasing Association (MLSZ) head Gábor Lévai said at a press conference on Tuesday.

The gross value of assets which leasing companies financed reached HUF 222 billion in H1, Lévai said. Leasing companies signed 38,209 contracts during the period, down 2.3% from H1 2010.

Total outlays of leasing companies came to HUF 2,200 billion at the end of the June. Almost half were car leases.

Leases now account for 10.4% of machinery investments, up from 6.2% at the end of 2010.

The proportion of corporate clients is growing while that of retail clients is falling, Lévai said. Corporate clients now account for about three-fourths of new car leases, he added.

Tractor-trailer leases are up 30% because of the economic pick-up, he said. The other high-growth segment is IT and office equipment, though leases still account for just 4-5% of these investments, he added.

Leases for construction industry assets plunged 30% in H1, Lévai said.