Analytics, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Friday, 06.12.2019, 16:09

Latvia's leasing and factoring portfolio grows 1% in Q1

BC, Riga, 23.07.2019.Print version
Latvia's leasing and factoring portfolio increased 1 % in the first quarter 2018 to EUR 1.868 bn at the end of March, according to the Latvian Association of Leasing Providers information writes LETA.

The leasing portfolio expanded 1.5% from the end of 2018 to EUR 1.701 bn at the end of March 2019, and the factoring portfolio contracted 3.7% to EUR 167.08 mln.

Compared to the end of 2018, the size of the finance leasing portfolio declined 7.6% to EUR 1.127 bn at the end of March and operating leasing increased 28.7% to EUR 502.792 mln. Loans worth EUR 71.694 mln were extended during the three-month period, up 8.6% from the end of last year.

The car lease portfolio rose 2.4% during the first quarter of 2019 to EUR 849.704 mln. Equipment leasing was up 1.8% to EUR 451.04 mln, and commercial transport leasing was down 0.8% to EUR 379.494 mln.

In the first three months of 2019, new leasing deals grew 5.2% against the same period last year to EUR 196.984 mln as new finance leasing deals decreased 12.1% to EUR 122.065 mln and new operating leasing deals jumped 56.7% y-o-y to EUR 66.348 mln. Loans grew 44.9% to EUR 8.57 mln.

Factoring turnover grew 26.1% y-o-y to EUR 223.481 mln in the first quarter of 2019, which included EUR 97.341 mln worth of domestic factoring deals, EUR 99.913 mln worth of export factoring deals, EUR 6.227 mln worth of import factoring deals and other types of factoring worth EUR 19.999 mln.

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