Leasing is a growing activity and has helped leading banks compensate for continuously shrivelling lending margins, according to recently released figures. The Hungarian Leasing Association’s 44 members financed purchases to a combined total of 740 billion Forint (Ft) (Ђ2.87 billion) in the first nine months of 2003, 20.5% up year-on-year, the association announced. The total amount financed increased by 48% to Ft 81.6 billion.
The association expects purchases financed by leasing constructions to rise to a total value of Ft 960 billion–Ft 1,000 billion by the end of the year, with a similar figure projected for 2004. Association head Pбl Antall said that the value of members’ portfolios is expected to rise by an average of 20% this year compared to last year.
