The factoring and leasing portfolio of the members of the Latvian Lessors’ association grew 16.6 per cent, to LVL332 million (Ђ499m) in 2003. This year 30 per cent growth in the sector is expected.
Latvian Lessors Association (LLA), consisting of Nordea Finance Latvia, Hanza Lizings and Unilizings, added two new members in 2003: Hipolizings and Vereinsleasing Riga.
The LLA members’ portfolio of accounts for 79 per cent of the total in Latvia. With the remaining 21 per cent owned by commercial banks. Leasing companies belonging to banks and lessors not connected to banks also took part in the market. In September Hanza Lizings held 60.2 per cent, Unilizings 32.6 per cent and Nordea Finance Latvia 7.19 per cent of the market share taken by the three companies.
