Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Saturday, 08.08.2020, 08:28

Latvia's leasing and factoring portfolio shrinks 6.3% in Q1

BC, Riga, 22.07.2020.Print version
Latvia's leasing and factoring portfolio decreased 6.3 % in the first three months of 2020 to EUR 1.774 bn at the end of March, according to the Latvian Association of Leasing Providers writes LETA.

The leasing portfolio shrank 6.9% from the end of 2019 to EUR 1.611 bn at the end of March 2020, and the factoring portfolio expanded 0.6% to EUR 162.716 mln.

 

Compared to the end of 2019, the size of the finance leasing portfolio declined 3.8% to EUR 1.047 bn at the end of March and operating leasing decreased 13.6% to EUR 485.935 mln. Loans worth EUR 78.134 mln were extended during the three-month period, down 2.9% from the end of last year.

 

The car lease portfolio declined 8.1% during the first three months of 2019 to EUR 441.577 mln. Equipment leasing was down 4.6% to EUR 320.084 mln, and commercial transport leasing was down 7% to EUR 320.084 mln.

 

In the first three months of 2019, new leasing deals declined 34.3% against the same period last year to EUR 129.418 mln as new finance leasing deals decreased 31.6% to EUR 85.538 mln and new operating leasing deals dropped 37.6% y-o-y to EUR 41.431 mln. Loans dropped 48.1% to EUR 4.45 mln.


Factoring turnover dropped 5.5 % y-o-y to EUR 211.23 mln in the first three months of 2020, which included EUR 99.297 mln worth of domestic factoring deals, EUR 94.274 mln worth of export factoring deals, EUR 9.197 mln worth of import factoring deals and other types of factoring worth EUR 8.463 mln.






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