ECONOMY

Rise in leasing contracts

The value of new leasing contracts rose 18.5 percent in 2002 to 1.536 billion euros, data compiled by the Association of Hellenic Leasing Companies show. A breakdown of results by company shows that all 13 firms active in the sector are bank subsidiaries. In terms of new contracts, EFG Eurobank Leasing came out on top, with new contracts worth 294.469 million euros. It was followed by Alpha Leasing (276.896 million), Piraeus Leasing (205 million), Cyprus Leasing (192.764 million), ATE Leasing (at 111 million, a significant drop from 190.72 million in 2001), Laiki Leasing (103.5 million), Emporiki Leasing (100.02 million), National Leasing (92.8 million), ETBA Leasing (68.4 million), General Leasing (27.6 million), newcomer Pro Bank Leasing (27.1 million), Egnatia (20.5 million) and Attica Leasing (16.3 million). The biggest category regarded mechanical equipment; new contracts were worth 528.2 million euros or 34.40 percent of the total, up slightly from 33.53 percent in 2001. Property leasing contracts were worth 433.58 million euros or 28.22 percent of the total, up from 25.74 percent in 2001. Contracts for leasing of vehicles for professional use were worth 248.2 million euros, 16.15 percent of the total, down from 17.68 percent in 2001. The relative importance of office equipment also decreased: new contracts in 2002 were worth 86.8 million, or 5.65 percent, compared to 7.06 percent in 2001. Leasing contracts for passenger cars accounted for 146.1 million euros or 9.51 percent of the total. Not surprisingly, 61.25 percent of all new contracts, worth 941.1 million euros, was generated in Attica.