Banks, Financial Services, Latvia, Markets and Companies, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 20.06.2018, 06:55

SEB Lizings leasing company finances 72,000 purchases worth EUR 2 bln during its 20 years in business

BC, Riga, 20.03.2017.Print version
Since its foundation in 1997, SEB Lizings, a Latvian leasing company of the SEB Group, has issued about EUR 2 bln in financing to its customers for buying 72,000 items.

Most of those or 76% were cars, SEB Lizings said. About 10% of all leasing deals were for financing purchase of commercial vehicles, 6% for acquisition of equipment and 3% for purchase of agricultural machinery and industrial equipment.

During the 20 years in business the leasing company has granted financing to more than 25,000 customers.

SEB Lizings said that during its history it had observed that the demand for cars, in particular new cars, tended to rise during the periods of economic upturn. This is also happening now, as a steep rise was observed in purchase of new cars by individuals in 2016.

Last year SEB Lizings granted EUR 52 mln for purchase of new cars, up 63% from 2015, and the amount of financing granted for purchase of used cars on the leasing terms grew 9% to EUR 12 mln.

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